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Walden Dissertations and Doctoral Studies Collection

2023

Employee Retention Strategies in Selected Small and Medium

Enterprises in Nigeria
Ijeoma Omeoga
Walden University

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 Walden University

College of Management and Human Potential

This is to certify that the doctoral study by

Ijeoma Nkechi Omeoga

has been found to be complete and satisfactory in all respects,

and that any and all revisions required by
the review committee have been made.

Review Committee
Dr. Theresa Neal, Committee Chairperson, Doctor of Business Administration Faculty

Dr. Inez Black, Committee Member, Doctor of Business Administration Faculty

Dr. Alexandre Lazo, University Reviewer, Doctor of Business Administration Faculty

Chief Academic Officer and Provost

Sue Subocz, Ph.D.

Walden University
2023
 Abstract

Employee Retention Strategies in Selected Small and Medium Enterprises in Nigeria

by

Ijeoma Nkechi Omeoga

MBA, ESUT Business School, Enugu, 2007

BSc, Abia State University, Uturu, 2000

Doctoral Study Submitted in Partial Fulfillment

of the Requirements for the Degree of

Doctor of Business Administration

Walden University

July 2023
 Abstract

The lack of employee retention strategies in Nigeria’s small and medium enterprises

(SMEs) can have adverse business outcomes. Business leaders are concerned about

employee retention strategies since they can help reduce turnover and retain experienced

employees. Grounded in Herzberg’s two-factor theory of motivation, the purpose of this

qualitative multiple-case study was to explore strategies business leaders use to retain

their experienced employees. The participants were four business leaders of four SMEs in

Nigeria who successfully implemented strategies that helped retain their experienced

employees. Data were collected using semistructured interviews and a review of

organization policy documents. Through thematic analysis, four themes were identified:

(a) training and development, (b) management and leadership style, (c) organizational

culture, and (d) financial and non-financial benefits. A key recommendation is for

business leaders to invest in talent management and capacity-building courses to keep

employees informed about new technologies in their areas of expertise. The implication

for positive social change includes the potential to reduce unemployment and increase tax

revenue for community development.

Employee Retention Strategies in Selected Small and Medium Enterprises in Nigeria

by

Ijeoma Nkechi Omeoga

MBA, ESUT Business School, Enugu, 2007

BSc, Abia State University, Uturu, 2000

Doctoral Study Submitted in Partial Fulfillment

of the Requirements for the Degree of

Doctor of Business Administration

Walden University

July 2023
 Dedication

I dedicate this study to God, who answered my prayers and made this dream

possible. I dedicate this work to my loving husband, Dr. Chukwuemeka Omeoga, who

encouraged me in every way, stood by me, and supported my dream to get this level of

education. I also dedicate this work to my lovely children, Nnaemeka, Oluomachi and

Ugochukwu, whose love, patience, and understanding pushed me to finish this work. My

family is the best gift of all; thank you!

 Acknowledgments

I want to acknowledge Dr. Theresa Neal, my chair, as an excellent guide and

mentor. Thank you for your feedback, support, and counsel during the doctoral process.

Dr. Inez Black, my second committee member, for reviewing and adding value to my

work and supporting my progress behind the scenes, Dr. Alex Lazo, the university

research reviewer, Dr. Gail Miles, my program director and Dr. Segun Fadahunsi, my

senior colleague, for being a gracious peer mentor. I wish to specially acknowledge my

loving husband, Dr. Chukwuemeka Theophilus Omeoga, for his unflinching support, and

encouragement throughout this program, my children, Nnaemeka, Oluomachi, and

Ugochukwu, for their prayers, understanding and support, my elder sister Dr. Mrs. Grace

Ukonu, for coming through for me when I was stuck. I also wish to acknowledge my dear

parents Elder Jeremiah O. Nwichi and Late Dr. Mrs. Uzoma C. Nwichi for their support

and prayers. Thank you all for being an important part of my journey.
 Table of Contents

List of Tables ......................................................................................................................iv

Section 1: Foundation of the Study......................................................................................1

Background of the Problem ...........................................................................................1

Problem and Purpose .....................................................................................................3

Population and Sampling ...............................................................................................3

Nature of the Study ........................................................................................................3

Research Question..........................................................................................................5

Interview Questions .......................................................................................................5

Conceptual Framework ..................................................................................................6

Operational Definitions..................................................................................................7

Assumptions, Limitations, and Delimitations................................................................7

Assumptions............................................................................................................ 7

Limitations .............................................................................................................. 8

Delimitations ........................................................................................................... 8

Significance of the Study ...............................................................................................8

Implications for Social Change............................................................................... 9

A Review of the Professional and Academic Literature ..............................................10

Conceptual Framework ......................................................................................... 11

Employee Retention .............................................................................................. 15

Employee Attrition................................................................................................ 20

Employee Retention Strategies ............................................................................. 22

i
 SMEs ................................................................................................................... 34

The Impact of Employee Retention Policies on SMEs......................................... 35

Transition .....................................................................................................................36

Section 2: The Project ........................................................................................................38

Purpose Statement........................................................................................................38

Participants...................................................................................................................40

Research Method and Design ......................................................................................42

Research Method................................................................................................... 43

Research Design.................................................................................................... 44

Population and Sampling .............................................................................................47

Population and Sampling ...................................................................................... 47

Sample Size........................................................................................................... 48

Ethical Research...........................................................................................................50

Data Collection Instruments.........................................................................................52

Data Collection Technique...........................................................................................54

Data Organization Technique ......................................................................................55

Data Analysis ...............................................................................................................56

Reliability and Validity................................................................................................58

Reliability.............................................................................................................. 59

Validity.................................................................................................................. 59

Transition and Summary ..............................................................................................63

Section 3: Application to Professional Practice and Implications for Change ..................64

ii
 Introduction..................................................................................................................64

Presentation of the Findings.........................................................................................65

Theme 1: Training and Development ................................................................... 65

Theme 2: Management and Leadership Style....................................................... 68

Theme 3: Organizational Culture.......................................................................... 72

Theme 4: Financial and Nonfinancial Benefits..................................................... 78

Applications to Professional Practice ..........................................................................82

Implications for Social Change....................................................................................85

Recommendations for Action ......................................................................................86

Recommendations for Further Research......................................................................88

Reflections ...................................................................................................................89

Conclusion ...................................................................................................................91

References ..........................................................................................................................93

Appendix: Interview Protocol ..........................................................................................125

iii
 List of Tables

Table 1. The Role of Training and Development ............................................................. 65

Table 2. The Role of Management and Leadership Style................................................. 69

Table 3. The Role of Organizational Culture.................................................................... 73

Table 4. The Role of Financial and Non-financial Benefits ............................................. 78

iv
 1
Section 1: Foundation of the Study

One of the main reasons why organizations find it challenging to perform

maximally and achieve their organizational goals is the frequent turnover of employees.

Employees make up an essential capital of the organization; human capital and

organizational success have been linked to employee retention (Bilan et al., 2020; Kurdi

et al., 2020; Siddiqui, 2014). The performance and continued success of an organization

can be traced to its committed employees, which make up the executors of organizational

goals and, in some cases, are custodians of organizational trade secrets (Cherif, 2020;

Klasa et al., 2018). Organizations must work toward reducing the rate at which their

employees leave. The purpose of this study was to identify strategies that some managers

have successfully implemented to retain their experienced employees. The findings from

this study provide beneficial information for other small and medium enterprises (SMEs)

to plan their strategies for employee retention.

Background of the Problem

SMEs make up a significant part of economic growth. In Nigeria, 90 to 95% of all

enterprises are nano, micro, small, and medium enterprises (NMSME), and SMEs

contribute about 84% of the labor force in Nigeria (Federal Republic of Nigeria, 2021).

The employee is an essential resource that ensures that SMEs execute their goals and

maintain a competitive advantage, and retaining employees, especially the skilled ones,

should be one of the focuses of every organization (Bilan et al., 2020; Iqbal et al., 2019).

Chiat and Panatik (2019) noted that it would cost about 6 to 9 months of an employee's
 2
salary to replace a skilled employee. SMEs must work toward retaining their employees

because of the associated costs incurred when employees leave the organization.

Employee retention involves keeping employees and their services in an

organization over a period. Employee retention strategy therefore is a plan an

organization has put in place to create a conducive environment that meets the needs of

the employee to hold onto their top talents in the organization (Elsafty & Oraby, 2022).

The problem is that business leaders in SMEs in Nigeria lack strategies to retain their

experienced employees. Research has shown that organizations that lack employee

retention strategies tend to perform more poorly than organizations with a planned

employee retention strategy (Joyce & Ahmad, 2019). Lack of employee retention

strategies could lead organizations to carry out activities that will discourage their

employees from staying with the organization. This can negatively affect the overall

performance of an organization by increasing the cost of operation and reducing profits.

SMEs in Nigeria face the challenge of attracting and keeping their best talents due

to the competition from more prominent organizations who may offer better incentives to

employees. Kurniawaty et al. (2019) noted that organizations in the same industry or that

need similar human resource talents, compete for the best talents. High employee

turnover may cause an organization not to be the top choice for talented employees. High

employee turnover may also cause the organization to lose trade secrets to their

competition (Klasa et al., 2018; Levallet & Chan, 2019). There is no current research

focused on employee retention strategies from the business leader’s experience in

Nigeria, as some business leaders do not check in with their employees to ensure that
 3
they are satisfied with their work. Business leaders could develop retention strategies

with feedback from such engagements (Auh et al., 2019; Siddiqui, 2014). It is important

to understand from the experiences of the business leaders in Nigeria, what successful

strategies have helped in retaining their experienced employees. The background to the

problem has been provided; the researcher’s focus will now shift to the problem and

purpose statement.

Problem and Purpose

The specific business problem was that some business leaders of SMEs in Nigeria

lack strategies to retain their experienced employees. The purpose of this qualitative

multiple case study was to explore the strategies that some business leaders of SMEs in

Nigeria have successfully implemented to retain their experienced employees.

Population and Sampling

Data were collected from four SME business leaders in Nigeria using purposive

sampling and semistructured interviews to elicit their lived experience of successful

strategies they have implemented to retain their experienced employees. I reviewed

internal documents, including training manuals and employee policy documents for

relevant information.

Nature of the Study

The three main research methods are qualitative, quantitative, and mixed (Rutberg

& Bouikidis, 2018). I chose the qualitative method for this study to ask open-ended

questions during semistructured interviews of business leaders. Qualitative researchers

use open-ended questions to discover lived experiences and perceptions of people

 4
(Rutberg & Bouikidis, 2018; Saunders et al., 2016). In contrast, quantitative researchers

use closed-ended questions to test hypotheses (Mohajan, 2020). Mixed methods research

includes qualitative and quantitative elements (McChesney & Aldridge, 2019). I did not

use quantitative methods in this study.

Any of these four research designs may be used for a qualitative study: (a)

ethnography, (b) focus group, (c) narrative, and (d) case study. (Tomaszewski et al.,

2020). Ethnography involves studying the culture of groups of people, which may include

observations to describe how the culture works (Tomaszewski et al., 2020). Ethnography

was not appropriate for my study as I did not observe the culture of the people but just

interviewed the participants and relied on their feedback. A focus group involves a group

discussion process through which qualitative data is collected as the participants interact

(Keemink et al., 2022). I did not use the focus group design as I did not interview a group

of business leaders in a group discussion; rather, I conducted a one-on-one interview with

the business managers. A narrative design entails storytelling, where the participant is

expected to narrate an event, talking about their lived experience (Tomaszewski et al.,

2020). Narrative design is not optimal as it involves both the storytelling and observation

of the participants during the storytelling. A case study is used to explore a phenomenon

in its natural context in depth and must be within a bounded system (Keemink et al.,

2022). Keemink et al. (2022) noted that a case study is used mainly for researching

interventions. I used a case study to explore employee retention strategies in SMEs in

Nigeria.
 5
I conducted a multiple case study. Multiple case study design involves an in-depth

examination of data from various sources to understand a particular phenomenon in its

natural setting (Coplan & Evans, 2021). When multiple cases are analyzed, there is a

basis for cross-case comparison of findings and makes transferability to other settings

justifiable (Coplan & Evans, 2021). Rashid et al. (2019) noted that using a multiple case

study allows the researcher to gather data until saturation of themes is reached. To

address the research question, I conducted a multiple case study because the findings

from a single case study may not provide enough assurance to generalize or transfer the

results to other settings. I gathered data until saturation of themes was reached.

Research Question

What strategies do business leaders in SMEs in Nigeria implement to retain their

experienced employees?

Interview Questions

1. What strategies did you use to retain your experienced employees?

2. How do you measure the success of the employee retention strategies you

used?

3. What challenges did you experience in achieving success in implementing

your employee retention strategies?

4. How did you overcome these challenges in implementing your employee

retention strategies?

5. Which of the strategies have you implemented that has worked best for

employee retention?
 6
6. What additional information can you share about strategies your organization

uses for implementing a change management process to successfully increase

revenues from business operations?

Conceptual Framework

Fredrick Herzberg developed the two-factor theory of motivation (Herzberg,

1965). The author conducted a study to discover the relationship between job satisfaction

and job performance and to discover factors that satisfied employees. The investigation

was conducted with a group of engineers to find out how various factors in the workplace

affected their attitude toward work and their performance in general. The result of the

study showed that people are influenced by two sets of factors in the workplace;

motivators and hygiene factors (Herzberg, 1965; Herzberg et al., 1993). Hygiene factors

are extrinsic factors that do not necessarily motivate employees, but their absence will

result in employee dissatisfaction. The hygiene factors identified include salary, policies,

interpersonal relations, salary, policies, administration, supervision, working conditions.

On the other hand, motivators are intrinsic factors like advancement, the work itself, the

possibility of growth, responsibility, recognition, and achievement. Thant and Chang

(2021) linked employees job satisfaction to both motivators and hygiene factors. In

research conducted in the public sector to determine the source of employee satisfaction,

Thant and Chang identified interpersonal relationships, factors in personal life, work

itself, and recognition as factors that influenced employee motivation. Prasad Kotni and

Karumuri (2018) also identified work-life balance, autonomy at selling, financial stability

of the organization, and recognition as factors that motivate employees in a study

 7
conducted to explore strategies that motivate the sales force in an SME. I used

Herzberg’s two-factor theory as a lens for me to explore successful strategies that

business leaders in SMEs use to retain their experienced employees.

Operational Definitions

Employee Retention: Employee retention is defined as an organization keeping

back great and talented employees in a work environment that the employees are

comfortable with, which ensures that their needs are met. (Lee, S., et al., 2018; Upadhyay

et al., 2020)

Employee Retention Strategies: Employee retention strategies are mutually

beneficial to both the employee and the organization because they have been developed

with the purpose of encouraging employees to remain in the organization. (Alhmoud &

Rjoub, 2019; Khalid & Nawab, 2018; Lee, T., et al., 2018).

Job Embeddedness: Job embeddedness is defined as the summation of the many

factors in an employee’s life that makes him feel suitable for their job, connected with

other employees and activities in the workplace, and value them so much that they are

unwilling to leave the organization (Ali et al., 2022; Li et al., 2022; Saeed & Jun, 2022).

Assumptions, Limitations, and Delimitations

Assumptions

Assumptions are unverified statements made and believed to be true without

proof or evidence and can either be social or technical (Schröter et al., 2021; Specht et al.,

2022). Social assumptions are based on human interactions while technical assumptions

are based on non-human systems (Specht et al., 2022). In conducting any research, the
 8
researcher makes certain unproven but widely acceptable assumptions to allow for the

success of the study, (Ellis & Levy, 2009; Theofanidis & Fountouki, 2018). My first

assumption was that the study’s participants have a complete understanding of the

retention strategies of their organization. My second assumption was that the

organization's retention strategies are instrumental to retaining their experienced

employees. Finally, I assumed the business leaders were best positioned to express the

organization’s effective retention strategies.

Limitations

Certain aspects of research are clearly out of a researcher’s control and are a

limitation to the study (Ellis & Levy, 2009; Theofanidis & Fountouki, 2018). One

limitation is that I depended on the sincerity of the participants, in this case, the

managers. Second, the participants’ experience may not be an exclusive representation of

all the SMEs in Nigeria and so may not be generalizable.

Delimitations

Delimitations are limitations set by the researcher to ensure that they achieve the

aim of the study (Ellis & Levy, 2009; Theofanidis & Fountouki, 2018). One delimitation

of this study was that the participants were drawn from business leaders in SMEs. My

focus in this research was to understand effective employee retention strategies from the

business leader’s viewpoint. I did not seek the perspective of the employees.

Significance of the Study

This study is significant in that the findings may provide successful strategies that

managers can implement to motivate their employees and increase employee retention.
 9
When employees leave an organization frequently, the organization incurs financial costs

which affects their overhead and profit (Khalid & Nawab, 2018). The employee retention

strategies that SMEs have successfully applied can be used by managers in existing and

new SMEs to form their employee retention policies.

Contribution to Business Practice

The findings from the study may contribute to business practice by providing

information that managers can use in human resource planning. Every organization has

objectives, and organizations can use adequate planning to achieve their goals. An

important aspect of human resource planning is putting in place strategies to retain the

right employees. The findings from this study may indicate the strategies for employee

retention that are best used in SMEs and how managers can apply them to save cost and

improve organizational performance.

Implications for Social Change

The findings from this study may have implications for positive social change that

include a stable organization and the ability of small businesses to consistently pay their

tax which helps stabilize the economy. SMEs contribute to the growth and development

of the economy by payment of their taxes and taking on social responsibilities such as

employing members of the community, contributions to charities, youth development

centers, etc. (Opute et al., 2021). When SMEs become successful, they can support

families and local communities by providing job security. Socially impactful activities

require financial resources, so when the cost of operation is reduced, because of

 10
implementing employee retention strategies, more resources are made available for

community impact.

A Review of the Professional and Academic Literature

The purpose of this literature review was to explore recent and previous research

on employee retention. My focus for the study was on successful strategies that leaders of

SMEs have implemented to retain their experienced employees in Nigeria. An essential

part of this literature review was linking recent and previous literature on employee

retention strategies to the conceptual framework, which provided a basis for the study. I

reviewed literature that related to employee retention, retention strategies, the necessity

of employee retention strategies, employee attrition, causes of employee attrition,

employee turnover, types of turnover, cost of employee turnover, cost and dangers of

employee turnover, SMEs in Nigeria. I accessed the following databases for my research:

Walden Library, ProQuest, EBSCO host, Google Scholar, Emerald Publishing Company,

and SAGE journals. Additionally, search words included motivation, job satisfaction,

Herzberg’s two-factor theory, and Maslow’s hierarchy of needs.

To organize the literature review, I captioned the topics in subheadings, beginning

with the conceptual framework, Herzberg’s two-factor theory. I reviewed the literature on

a supporting theory, Maslow’s hierarchy of needs. Afterward, I reviewed the literature on

the following subheadings: employee retention, employee turnover, employee attrition,

causes of employee turnover/attrition in SMEs, employee retention, employee retention

strategies, and SMEs in Nigeria. Ninety percent of the documents reviewed are within 5

years of anticipated graduation, 64% are from peer-reviewed journals.

 11
Conceptual Framework

Herzberg’s Two-Factor Theory

In this study, I used Herzberg’s two-factor theory of motivation as the conceptual

framework of this study. Based on the concept of Herzberg’s two-factor theory, I

identified the factors that motivate employees and bring about job satisfaction or de-

satisfaction. The knowledge acquired from this study may enable managers to make

decisions that will encourage employee retention.

Based on Herzberg’s two-factor theory, the key constructs/propositions

underlying the theory are (a) motivators, and (b) hygiene factors (Herzberg et al., 1993).

Motivators include intrinsic factors like, (a) possibility of growth and advancement, in

terms of acquiring new knowledge or skill from the assignment; (b) work itself, in terms

of the motivation that comes from completing a job; (c) taking responsibility, in terms of

receiving both an assignment and the authority to execute on the assignment; (d)

recognition for achievement, in terms of getting feedback; and (e) achievement, in terms

of quality performance are all factors that may motivate employees (Herzberg, 2003;

Herzberg et al., 1993). Hygiene factors on the other hand include extrinsic factors like,

(a) interpersonal relationships, (b) salary, (c) policies and administration, (d) supervision,

(e)working conditions, (f) job security (g) status (Alshmemri et al., 2017; Herzberg et al.,

1993). A combination of motivators and hygiene factors may contribute to encouraging

employees’ willingness to stay with the organization.

In trying to discover why employees choose to stay with an organization, it is

important to know what really motivates them. To get to the root of what satisfies an
 12
employee, it is important to answer the question, “how do you motivate employees?”

Herzberg (2003) noted that intrinsic factors motivate employees, however the absence of

extrinsic factors can cause job dissatisfaction. To answer the question of what made

people continue to stay motivated, Herzberg (2003) found out that people were motivated

at work for a different reason than they were dissatisfied. The absence of extrinsic factors

made employees unhappy, not necessarily demotivated, while intrinsic factors clearly

made them enthusiastic and motivated with their work. When employees were asked

about what made them happy at work, they mentioned things like good salaries, a good

boss, good working environment, good relationship with coworkers, policies and even

building a powerful sense of community (Herzberg, 2003; Li, 2018; Ruiz & Davis,

2017). When hygiene factors are absent in an organization the workers are not happy;

however, the availability of these factors does not really keep them motivated. People

stayed motivated when the work they do is interesting to them and the reasons identified

that interested employees include things like, whether the work challenged them, the

responsibilities they had, the growth possibilities in the workplace, their

accomplishments. (Li, 2018). While not every researcher agrees with the theory, other

scholars identified links between motivated employees and their desire to stay with an

organization.

Job satisfaction motivates employees to stay with an organization. When

employees are satisfied with the work, they do, introducing or removing certain factors

tend to affect the motivation of the employees either positively or negatively (Mehrad,

2020). Depending on the industry, certain factors that may motivate individuals include
 13
training and development, opportunities to gain experience. Employees would not want

to be in the same position and will desire to advance. When organizations provide

opportunities for training, it improves employee performance at work and, as a result,

employees will want to stay in a place that offers opportunities for personal improvement.

Employees have a personal sense of accomplishment, especially when they

receive recognition for a task, they executed from start to finish. This sense of

accomplishment brings job satisfaction and in turn motivates them. Employees who are

put in charge of tasks and given responsibility and authority to execute, may be motivated

by the sense of wanting to prove themselves and the ability they have (Piniel & Albert,

2019). When the employees have successfully overcome the challenge and achieved their

goals, it brings a sense of fulfilment and satisfaction.

People excel better when they perform tasks they are interested in, and have

adequate skill for, and their continued success in those areas can be a source of

motivation (Locke & Schattke, 2019). Liu et al. (2022) noted that when employees excel

in the jobs they perform, they experience some psychological satisfaction which can

result in motivation. It is therefore important to note that a motivated employee will more

likely be committed to an organization’s goals and may be willing to stay with the

organization than an unmotivated employee.

Maslow’s Hierarchy of Needs

Herzberg’s two-factor theory leverages on Maslow’s hierarchy of needs to

distinguish the motivators and the hygiene factors. Maslow posited that human needs are

the basis of the actions employee’s display. Maslow groups the needs into five tiers,
 14
starting from the base: psychological needs, the need for safety, social needs, self-esteem,

and self-actualization (Acquah et al., 2021; Fallatah & Syed, 2018; Maslow, 1943).

Depending on the level of need of an individual, Maslow posited that meeting the need of

an individual at their level of need will motivate them to make certain decisions or take

certain courses of action (Acquah et al., 2021). From Maslow’s position, meeting the

needs of individual employees is a source of motivation for them.

Motivation is the reason that makes people take a certain course of action.

Employees can decide just to satisfy a certain need or take a particular course of action

(Acquah et al., 2021; Ștefan et al., 2020). Herzberg classified psychological needs, safety

needs and social needs, as hygiene factors. If a person’s job can help them meet these

needs, Herzberg says, there will be no dissatisfaction. However, meeting the hygiene

factors does not result in motivated employees.

Maslow’s first three levels of needs, even if met, cannot completely satisfy an

individual because they are basic needs. An employee becomes satisfied and motivated

when the work they do meets their self-esteem and self-actualization needs (Acquah et

al., 2021; Ștefan et al., 2020). Maslow’s esteem and self-actualization needs are the

factors that Herzberg considers as satisfiers or motivators (Acquah et al., 2021; Mehrad,

2020). If an organization can meet the basic needs of an employee, they may stay with an

organization for a period until the desire to grow makes them seek out better

opportunities. Creating headroom and growth opportunities can be a motivation for the

employee to stay with their current organization, to grow into those opportunities,
 15
encouraging retention (Ghani et al., 2022). The need for esteem and self-actualization can

make an employee seek more challenging opportunities (Kurdi et al., 2020).

Maslow’s hierarchy of needs focused on the hierarchy of needs and how meeting

the basic level of need is the most important aspect. When a person is unable to meet

their basic needs, then meeting their next level of need will not be a motivation for them.

I did not choose Maslow’s hierarchy because this theory is not particularly work related

but can apply to life in general. The Herzberg theory on the other hand focused on job

satisfaction in a work environment and so relates to factors that can impact on motivation

and employee retention.

Employee Retention

Human resources are one of the essential resources needed for an organization to

thrive. The organization’s performance is traceable to the quality of employees it can

attract and retain, making the employee one of the principal factors in achieving

organizational goals (Kurdi et al., 2020; Sawaneh & Kamara, 2019). Hiring and retaining

the best-performing employees is at the core of an organization’s performance (Ikram et

al., 2021). Employee retention refers to employees staying with an organization for an

extended period because of measures that the organization has put in place. Singh (2019)

noted that employee retention refers to keeping the employees of an organization working

willingly with their employer for a longer time because of different measures being

implemented by the employer. Vui-Yee and Paggy (2020) noted that losing high-

performing employees to employee turnover would cost the organization knowledge,

skill, and profit. Retaining experienced and high-performing employees can give an
 16
organization a competitive advantage (Kumar & Reddy, 2019). Employee retention is

preferred to hiring new employees, especially when the employees are experienced,

innovative, and highly productive.

Employee retention strategies are targeted at having employees who will enhance

the organization’s competitive advantage. While working with employees, business

leaders tend to discover factors that will drive employee retention or strategies that can be

adopted to motivate employees to retain them (Kurdi et al., 2020). Kurdi et al. (2020)

also noted that retaining employees who will strengthen the organization’s attractiveness

will reduce the cost associated with managing new employees. Because employee

retention is challenging for organizations, human resources activities should include

developing strategies to retain talented employees (Hussein et al., 2021; Kurdi et al.,

2020). Organizations find it challenging to keep their employees for reasons like: (a)

poaching, where rival organizations seek talents with the employer organization,

promising them sometimes better benefits, and (b) talented employees migrating to other

countries seeking better opportunities. Mass migration or relocation of talented staff for

economic reasons will severely impact the organization’s progress, increasing cost and

causing brain drain, creating an inability of the organization to plan to replace aged

talents early enough. Retirement can also pose a challenge, especially when most

experienced and talented employees are at the same level/cohort. (Hussein et al., 2021;

Singh, 2019). Human capital will move toward organizations that present the best

package for their benefit; as a result, organizations are saddled with a responsibility to

develop strategies to ensure they retain their experienced and best-performing employees.
 17
Employee Turnover

The rate at which employees leave organizations has increased and organizations

with retention policies are able to reduce employee turnover. Employee turnover is one of

the most challenging problems organizations face (Chiat & Panatik, 2019). The rate at

which employees leave an organization (employee turnover) has increased in recent times

is alarming (Amah & Oyetuunde, 2020; Park et al., 2019). Customers who are familiar

with an employee who suddenly leaves an organization may refuse to receive the service

of others and so the organization may lose customers, causing low performance.

Organizations facing high employee turnover may cease to be attractive to talented and

potential employees. Employee turnover results in negative consequences like increased

running costs, reduced productivity, lowered morale, reduced attraction to choose

potential employees and even customers (Chiat & Panatik, 2019; Park et al., 2019; Zhao

et al., 2018). Organizations spend time and resources recruiting and training employees.

Trained employees who leave an organization may share their previous employer’s mode

of operation with rival organizations. Especially in SMEs, employees leave for reasons

that may include lack of trust in their leaders, interpersonal conflict with bosses and

colleagues, dissatisfaction with work conditions, in search of better opportunities (Al-

Suraihi et al., 2021; Park et al., 2019). An organization may not be able to entirely stop

employees from leaving, however, to reduce employee turnover, the organization should

have plans to reduce employee turnover to the barest minimum.

Types of Employee Turnover

 18
Though employee turnover impacts organizational performance, not all types of

employee turnover affect the organization similarly. Generally, organizations will want to

retain their best employees because it will benefit them and they will maintain good

performance with their best employees (Rombaut & Guerry, 2020). Not all employee

turnover is detrimental to the organization. There are two main categories of employee

turnover are voluntary and involuntary turnover. Voluntary turnover could come in the

form of transfers, quits, or retirement, while involuntary turnovers could come from

termination of employment (Lee, 2018; Lee, S., et al., 2018). The distinguishing factor

between voluntary and involuntary turnover is the person that initiates the turnover, either

the employer, or the employee. These various categories of turnover affect the

organization in diverse ways. Turnover could result from employees seeking to move to

other job categories that suit their skills within the same organization. An employee in

human resources may seek to transfer to a more technical department because they may

have added to their skill and may want to expand their experiential knowledge. The

desire to move may also result from moving to another location. The movement of a

spouse to another area may demand an employee to seek a transfer, especially if the

desired location has opportunities for the employee. These two are examples of transfers

that can increase voluntary turnovers. Another type of voluntary turnover is quitting.

Quitting means the employee outrightly leaves the organization for reasons best known to

them or an employee chooses to retire having served the stipulated length of time. The

type of voluntary turnover that may have a positive impact on the organization’s

performance is when an employee seeks a transfer to another department or location

 19
within the same organization. If the performance or the input of the employee to the

organization is better in the new department, then their transfer has positively impacted

on the organization. In that case, the effect on the organization will not negatively impact

the organization because the employee is still within the organization and is performing

better in their new department. However, it should be of great concern to an organization

if its talented employees begin to leave the organization.

Involuntary turnover occurs when employers lay off employees. An (2019) noted

that when employees are laid off, it could be because they are no longer adding value to

the organization, or their continuous stay could be detrimental to organizational

performance. Stritch et al. (2020) noted that setting difficult goals may cause the low

performance of employees which could lead to their jobs being terminated. In the case of

involuntary turnover, the employer initiates the turnover process. Lee (2018) noted

another reason for involuntary turnover could be an employer downsizing their

employees. Sometimes, an organization may not be able to meet its financial obligations

and as a result, they may choose to downsize their employees. When two organizations

merge into one or an organization acquires the other, it may result in involuntary

turnover, because some people will lose their jobs. All these reasons could result in

involuntary employee turnover. For involuntary turnover, in whichever case, the

organization gains by removing unproductive employees, giving room for employees

with better skills. Studying and understanding the variations of employee turnover helps

the organization create workable employee retention strategies.

 20
Employee Attrition

While employee turnover looks at the number of employees that leave an

organization within a specific period, employee attrition refers to the natural ways that

employees leave the organization. Employees may decide to leave an organization for

reasons like the management skills of the leader (Hoffman & Tadelis, 2021) A leader

who has good people skills is most likely to have the employees committed and willing to

stay. People want an environment where they can grow and thrive and express

themselves freely. A leader will either provide such an enabling environment through

their people skills or create an environment that makes the employee unable to grow or

thrive, which can make them quit.

An employee may leave an organization voluntarily i.e., based on personal choice

or for personal reasons, or involuntarily when the management removes the employee or

se of reasons beyond their control e.g., retirement, dismissal, or death. Olubiyi et al.

(2019) noted that an employee may decide to leave their organizations because their

values do not align with the organization’s values. An employee may discover that, in

conducting their roles, their values do not align with that of the organization and may

decide to leave or the organization may ask them to leave. If they decide to leave, then

the attrition is voluntary, but if the organization asks them to leave, then the attrition is

involuntary. So, in this case this attrition follows the concept of person-organization P-O

fit, which means that the said employee is not fitting for the role. To measure employee

attrition, organizations must maintain consistent and detailed employee information (Frye

et al., 2018). Maintaining consistent and detailed employee information will help the
 21
organization to prevent the negative effect of attrition by planning the employee

recruitment, accordingly, based on available information.

Causes of Employee Attrition in SMEs

Every employer will want to attract and employ the best talent and intends to keep

them if they are contributing to the growth of the organization. SMEs are severely

affected by attrition because of the limited resources available to hire and replace

employees that leave. There are various causes of attrition in SMEs, including a lack of

strong retention policies, and a lack of job rotation policies. They lack policies that will

motivate the employees and improve job satisfaction. Lack of career growth, lack of

compensation and recognition, and lack of communication are the identified reasons that

cause attrition in SMEs (Srivastava & Tiwari, 2020). No one wants to be stagnant in their

roles, though some are ok with a monotonous role people who are not, will seek change

to do something else. An employee can leave organizations in search of a new and more

challenging role. People equally want to progress in their careers for self-actualization

reasons. When organizations create headroom for career growth, it may discourage

attrition, especially of great talents, because they could either become promoted or switch

roles and both cases can lead to increased job satisfaction. Attrition can occur because of

retirement.

A group of people employed at the same time may retire at the same time and this

can cause mass attrition. The organization will usually plan for this type of involuntary

attrition by employing newer staff to understudy the older ones, the newer ones take over

the jobs of the retired employees. With proper human resources management, the
 22
organization can minimize the negative effect of involuntary employee attrition related to

retirement. (Hoffman & Tadelis, 2021). The organization may not be able to plan when

an employee dies suddenly or when there has been a merger or an acquisition of the

company, and employees may be put aside without their choice. Employees may also

leave their roles and move to other roles in search of newer and challenging experiences.

Employee Retention Strategies

Skilled employees are more confident of their value, and they seek the best

opportunities in the best work environment to practice their skills. Employers on the other

hand, need to retain the best skills if they will remain relevant in their industries (Naz et

al., 2020). Employers doing whatever they can to keep, the best skills, tend to attract the

best skills and lead in their respective industries. Employee retention strategies include

all the measures an employer applies to managing their human resources, with the aim of

retaining the best skills for a longer time.

To retain talented employees, it is important that employers provide a work

environment that will encourage the employees to stay. Naz et al. (2020) noted that

employee turnover affects the organizations negatively because turnover may involve

losing talented employees. Providing a conducive environment that will encourage the

employees to stay should be one of the focuses of employers. Business leaders need to

retain the best talents to achieve their goal, some of them develop and apply different

strategies to achieve their goal of employee retention. Some strategies are discussed

below.

Training and Development

 23
Employees who have stayed long in a particular position may lose their drive and

the excitement associated with their work. Employees may begin to look for

opportunities to increase their skills. If there are no opportunities for training and

development, they may start looking for more challenging opportunities outside. Training

and development opportunities have a positive effect on young employees and may

influence their willingness to be loyal to an organization (Akther & Tariq, 2020). It is

important to note that training and development should not stand alone. Organizations

need to have an employee support system like an employee retention strategy or policy

together with training and development to encourage employee loyalty to the

organization (Nguyen, 2020). Alrazehi et al. (2021) and Manzoor et al. (2021) noted that

though training and development encourage employee performance and productivity, a

lack of employee support in an organization may make the employees leave the

organization. It is important that organizational leaders set up employee retention

strategies which may include creating training opportunities for their employees. Training

and development may increase employee drive and improve performance when in an

employee-supported environment. A support system may include opportunities for

advancement after an employee is trained. When there are opportunities for growth with

an improved skill or qualification, this can motivate employees to stay with the

organization. Improved skill should come with an opportunity to apply what has been

learned to an advanced responsibility. Without a supportive environment, training and

development may equip employees with skills to seek other opportunities in other

organizations that offer better employee support.

 24
Management and Leadership Style

Every organization needs a sense of direction and leadership provides the needed

direction for the organization to advance. An employee in a toxic environment may just

be looking for the slightest opportunity to leave the organization. Bossy leaders lack

empathy, and do not provide an enabling environment for employees to, express

themselves, grow and thrive. Other leaders may not have what it takes to stir people in

the direction of achieving organizational goals. To retain employees, it is important that

business leaders exhibit the right leadership skills, to ensure they harness the talent of

their employees while ensuring their personal growth (Mwita & Tefurukwa, 2018;

Ohunakin et al., 2019). An employee may decide to stay or leave a firm because of the

leadership style of their leader, this is important to note.

Certain leadership styles may work best in employee retention. Leaders who are

genuinely interested in their employee’s well-being and seek that they are satisfied with

their jobs are most likely to influence their stay. Leaders who are interested in the

development of individual employees and give support to ensure that those they lead are

engaged and motivated to deliver on their jobs, influence their decision to stay (Ohunakin

et al., 2019; Yamin, 2020;). A leader is also in a best position to enhance the

interpersonal relationship between themselves and their subordinates. Leaders who

operate an open-door policy, encourage feedback from their subordinates and provides a

cordial inter-personal relationship at work. This sort of atmosphere at work can

encourage employees to stay with an organization. Business leaders need to ensure that

they have the required skills to understand their employees and be able to stir them
 25
toward achieving the organizational goal while paying special attention to their

leadership styles.

Employee Engagement

Employers, in a bid to retain their employees should develop strategies to ensure

their employees are actively engaged and invested in the organization. Lee et al. (2020)

noted that an engaged workforce influences the performance of an organization. Some

strategies include ensuring that proper orientation is given to employees as they come on

board, the employee’s tasks/roles in the organization match their areas of strength and

talents, they participate in some form of shared leadership, and their contributions are

valued, etc. (Bhasin et al., 2019; Quek et al., 2021; Sergio & Rylova, 2018). Employee

engagement is an important strategy for employee retention because employees who love

are engaged with their work will stay with the organization.

When employees are engaged in the business of the organization, they are likely

to be committed to their roles and enjoy the work they do. Employees could be engaged

with their work and or engaged with the organization. When organizations can match an

employee’s talent to their role, they can perform better and be more involved and

enthusiastic about their roles (Bhasin et al., 2019; Sergio & Rylova, 2018). Engaged

employees may be more willing to work toward achieving organizational goals (Bhasin et

al., 2019). When employees are engaged in their jobs, they are committed; on the other

hand, when they are engaged with the organization, as stakeholders, they will likely stay

with the organization. In any or both cases, engaged employees may opt to stay with the

organization.
 26
Work Flexibility

The performance of the employee will reflect on the organization's performance,

this makes the employee an essential resource for organizational performance. In recent

times, work flexibility is one notable factor affecting employee satisfaction (Arrighetti et

al., 2021; Davidescu et al., 2020). Employees would rather have better control of their

time while delivering on the expectations of their employer. Work flexibility entails

employees being able to choose their working hours and location (Ma, 2018). Since the

COVID-19 pandemic, during the lock-down, people had to stay home to minimize

individual contact with others; organizations opted for their employees to work online.

This allowed the employees to connect with their families and engage in other social

activities. Workers are beginning to see how long working hours affect their family

relationships and extracurricular activities. Work-life balance is starting to play a role in

the choice of employment for most employees. Employers that adopt work flexibility as

their human resource management (HRM) strategy will improve their employer brand

and encourage great talents to seek job opportunities (Austin-Egole et al., 2020; Singh,

2019). HRM or the employees themselves can introduce work flexibility (Austin-Egole et

al., 2020). Employers should incorporate work flexibility as their HRM strategy because

it will improve their employer brand and may attract the best talents. However,

employees are beginning to agitate for flexibility, which does not exist, and are ready to

quit their jobs and look for alternatives.

Job Embeddedness
 27
The importance of the right human resources in conducting the day-to-day

running of an SME cannot be over-emphasized. In addition, the quality of employees an

organization has will play an essential role in their performance. Individual commitment

to their work community may influence their decisions to stay with the organization or

leave. Job embeddedness as a strategy of employee retention describes how connected an

employee is with their work community in terms of fits, links, and sacrifice (Coetzer et

al., 2019; Safavi & Karatepe, 2019). An experienced and talented employee who loves

what they do in the organization, has a fantastic relationship with fellow workers, boss,

and others in their work community, and has worked their way up through the corporate

ladder may not want to lose their years of sacrifice, and so will most like choose to stay

with an organization.

Employees’ attachment to their jobs may play a significant role in their decision

to stay or quit. In trying to retain their employees, business leaders may need to ensure

they employ enthusiastic workers who have their values and goals aligned with the

organization’s (Khairunisa & Muafi, 2022). The right employee who is not integrated

into the workplace may still not be comfortable, so the organization may need to pay

attention to the onboarding activities and ensure the employee is well integrated into the

work community. An employee who has other factors that connect them to the

organization, or their work environment is highly embedded and may decide to stay with

the organization. Conversely, an employee who is less connected to the organization in

the ways mentioned is less embedded and may have nothing to motivate them to stay

when the opportunity arises (Ghani, et al., 2022). So, job embeddedness is an important
 28
strategy that business leaders can use to retain their employees by ensuring on their part,

an enabling environment for this strategy to thrive.

Organizational Culture and Commitment

The culture of an organization indicates how the members behave in terms of

what is acceptable and what is not and how everyday activities are carried out within the

organization. The consistency of culture within an organization can provide stability,

making the employees know what to expect. Akpa et al. (2021) noted that a solid

organizational culture clarifies to employees the happenings within the organization. So,

they can commit and be an ambassador of the organization. Consistency of the

organizational culture will help the employee determine whether the corporate values

align with their personal values. If an organization's culture aligns with the employees'

values, they will be willing to stay committed to the organization. Akpa et al. (2021) and

Erik (2021) noted that the organization's culture can be a factor that determines the

organization's performance. The organizational culture helps the employees make

decisions on what drives them. Whether the culture is strong or weak, effective, or

ineffective, the findings of the members of the organization will either improve

performance or reduce it (Kawiana et al., 2018; Tahir et al., 2019). The owners may

shape organizational cultures based on their experiences and beliefs. Employees’

experiences may also shape corporate cultures as they continue to evolve (Erik, 2021;

Tahir et al., 2019). Solid and effective organizational cultures have the potential to guide

the advancement of the organization as they work toward achieving their goals and

performing maximally. It is equally essential that the organizational culture encourages

 29
the members. No employee puts in their best efforts in a toxic environment, so in addition

to a solid corporate culture, the culture must equally be positive to make performance

effective. The stability that an organization’s culture presents, with its consistency, can

increase the trust an employee has in an organization. Employees will be more committed

to staying in a culture that they trust.

Work-Life Balance

The balance between an employee’s work and life outside of work may have a

link to whether they decide to stay or leave an organization. Pasamar (2020) noted that

the presence of a work-life balance improves job satisfaction, performance, and

commitment to work. The policy of the organization in creating opportunities for leisure

prevents burnout and this is beneficial to both the employee and the employer, (Slowiak

& DeLongchamp, 2022; Yu et al., 2022). While people need time apart from work for

social activities, to recoup, and get refreshed to perform maximally, others may need time

apart from work to be with their families. Some organizations have policies that

encourage the organization to create activities that will build team spirit and these

activities are not related to work. Increasing workload which may result in a decrease in

time for leisure, demotivates employees, thereby affecting performance (Vinberg &

Danielsson, 2021). An increase in workload could be a result of employees leaving the

organization and manpower reduction. Eliminating or decreasing leisure time will have a

detrimental effect on employee performance. When employees become demotivated and

burnt out, it may affect their health and may increase employee turnover.

Recognition and Rewards

 30
When people are recognized for their contribution to an organization, it can boost

their morale and encourage them to perform better. An organization that recognizes the

contributions of its employees and rewards them accordingly may have loyal employees

that will last for some time. Rombaut and Guerry (2020) noted that rewarding the

outstanding performance of an employee motivates them to perform better, in addition,

team recognition as well, can encourage employees or groups of employees to perform

better and can encourage them to stay with the organization. Employee motivation has

been linked to the recognition of employee performance and the reward of performance.

Rai et al. (2018) noted that when the efforts of employees are recognized through

adequate engagement and duly rewarded, the employees are motivated to perform better.

According to Herzberg’s motivation-hygiene factor theory, one of the factors that result

in employee job satisfaction is recognition of achievement (Herzberg, 1965).

Performance recognition of employees for achievements attained could result in

employees choosing to stay because they are satisfied with their work. Younies (2020)

noted that when there is a planned system of performance recognition and reward,

employees are likely to be attracted and may be motivated to stay. A well-structured

system of employee recognition and reward system in an organization can be a

motivating factor that will attract qualified and experienced workers and where these

policies are applied may result in employee retention.

Employer Branding

To improve performance and visibility, organizations develop themselves and

focus on building an image that is attractive to both employees and customers. This status
 31
or image that the organization acquires is called employer branding. An employer’s brand

may attract and retain employees or repel and cause increased employee turnover

(Monteiro et al., 2020). This image or brand, which the organization is building, could be

tied to the organization’s structure or values and standards, etc. Organizations seek to

attract talents to achieve organizational goals (Monteiro et al., 2020). In trying to ensure

that the right employees are attracted to the organization, organizations must build their

brands to achieve the right employees. Organizations with a reputation for negative

feedback responses or employers failing to meet their agreement for employee welfare

may lose the right people. Internet job seekers will look at the profile of the company of

the organization they are applying to, to find out what people are saying about the

organization, which could inform their decision to apply for the job on not (Saini, 2020).

Some organizations may decide to put their policies on employees right on their social

media sites which will show potential employees exactly what to expect should they

choose to work with them (Saini, 2020). Organizations need to be conscious of the

reputation they build online because people are watching, and seekers may make

decisions based on an organization’s reputation. Potential employees may want to be

associated with certain organizations because of their welfare package or corporate social

responsibility (CSR). For some organizations, where the employee is the major resource,

an organization may need to put forward their CSR package for their employee as a brand

to attract job seekers (Zainee & Puteh, 2020). In such organizations, the competition is

high because similar organizations will seek the best talents to attract. The organization

with the best package and reputation is most likely to attract and retain choice employees.
 32
Apart from employee-based CSR initiatives, some employees are interested in

community-based CSR initiatives. Such potential employees may be attracted to apply to

an organization that is involved in community-based CSR. They may even seek to get

involved in CSR and become more embedded in the system.

Employee Participation and Engagement

Being part of the decision-making process can give an individual a sense of

ownership and may likely encourage commitment and retention. Business leaders will

find it easier to work with employees who are engaged with the process in the

organization because highly engaged employees will be those who will likely stay with

the organization (Aktar & Pangil, 2018; Khalid & Nawab, 2018; Sahni, 2021). One way

organizations can get their employees interested in their work and keep them engaged is

to make them a part of the decision making process.

Making an employee a part of the decision-making process will give a sense of

ownership to the employee and may motivate them to stay with the organization.

Employee participation involves organizations involving employees in making decisions

regarding their work (Khalid & Nawab, 2018; Sahni, 2021). It helps them to set personal

goals to achieve their targets and take responsibility when they do not achieve their work

goals (Khalid & Nawab, 2018; Sahni, 2021). When the employees are well involved in

the decision-making process regarding their work, it helps them build capacity and may

fuel their commitment to the assignment and to the organization.

Inviting employees to participate in the organization may be through direct

participation. consultations, delegations, representation, and shared ownership schemes.

 33
Business managers involve employees in the organization; they may allow them to

influence a change in a process, thereby allowing them to express their talents. The

business manager may also consult subordinates for input before serious decisions are

made in the workplace. Employees also have unions with representatives to represent

them in decision-making within the organization. Sahni (2021) noted that millennial

workers are more committed and engaged with their work, when they are consulted in the

decision-making process. People are more committed to their work when they feel that

they are meaningfully contributing to achieving their goals and the organization’s growth.

When people sense that their opinions are not required or regarded, they may lose

motivation and may want to seek other meaningful opportunities.

Talent Management and Capacity Building

Managing the key talents in the organization may be critical to the advancement

of the organization. It is also important that organizations engage in capacity building to

train employees in other areas they may not be so good at, which will contribute to the

achievement of the organizational goals (Kwon & Jang, 2021; Wassem et al., 2019).

Some organizations have a strategy to attract, employ and retain highly skilled persons

with the required ability and capacity to function in key areas of the organization. Talent

management is about strategies the organization has put in place to ensure talented

employees are employed and maintained in the enterprise including having a succession

plan (King & Vaiman, 2019; Kwon & Jang, 2021). Capacity building is one strategy that

business leaders cannot overemphasize because of improving employees’ performance

and the importance of continuity in the organization. When new products or machines are
 34
introduced, building capacity becomes necessary to enable the employees to adapt to

organizational improvement. Talent management and capacity building can be strategies

that organizations can adopt for employee retention because when employees’ capacity is

advanced, their performance is improved, and the sense of personal growth and

development may encourage them to stay with the organization (Wassem et al., 2019). To

manage talented employees and encourage employee commitment, organizations’

policies may include policies and agreements about training and capacity building.

Policies and agreements about training and capacity building may improve the

employee’s performance, encourage commitment, and so result in employee retention.

SMEs

SMEs play an essential role in the growth and development of every economy.

SMEs contribute to creating employment for the unemployed or underemployed and even

the distribution of economic resources (Ajibola et al., 2021). Various parameters to

describe SMEs depend on the country, e.g., the number of employees, the amount of

paid-up capital, the annual turnover. The private sector arm of the world bank describes

SMEs as enterprises with less than three hundred employees or depending on the

country’s Gross National Index (GNI). An enterprise with a GNI of 1000 dollars and a

turnover of between 10,000 and 1,000,000 dollars is classified as an SME (Small &

Medium Enterprises Development Agency of Nigeria, 2019). In Nigeria, enterprises with

employees between 10 and 199 and assets of between 1000 Naira and 100,000,000 Naira

are described as SMEs. To promote economic growth, most countries encourage private

sector investment in small and medium businesses (Small & Medium Enterprises
 35
Development Agency of Nigeria, 2019). Small businesses provide employment

opportunities for the citizens, reducing the unemployment rate in the economy. SMEs

account for 97% of firms in the United States and 99.8% in the European Union (Harney

& Alkhalaf, 2021; Huang et al., 2022). In Nigeria, as in other world economies, SMEs

are essential in growing the GDP. The government of Nigeria is particular about working

toward developing the economy by creating avenues for a fund designed to support the

growth of small businesses (Adewole, 2018; Msimango-Galawe & Majaja, 2022). The

measurement of growth is based on revenue, public image maintenance, skill acquisition

and application, employee satisfaction and retention, and product marketing and

development (Adewole, 2018; Rozsa et al., 2019). Employees are essential to SMEs

because they are the organization’s performers, and their productivity lies with them. The

economy could be positively impacted if the SMEs succeed in performing maximally,

hence the reason for studying the need for employee retention strategies in SMEs.

The Impact of Employee Retention Policies on SMEs

Employee retention is an important human resources management challenge, and

it is necessary that every organization including SMEs develop retention policies that will

work for their specific industries. SMEs play a significant role in the development of any

economy. In Nigeria, high employee turnover in SMEs has been identified as one of the

causes of poor performance and this negatively impacts on the contributions of SMEs to

the GDP (Bikefe & Daniel, 2022). Not all organizations may experience turnover because

their leaders may have some strategies that help them reduce employee turnover. Other
 36
struggling SMEs may adopt these strategies to enable them to retain their experienced

employees.

SMEs with high employee turnover incur repeated avoidable costs in human

resources management. The cost incurred by SMEs linked to employee turnover includes

cost of hiring new employees, training costs, reduced morale of the remaining staff,

reduced production etc. (Bikefe & Daniel, 2022; Khan, et al., 2020). Applying employee

retentions strategies or implementing employee retention policies will help some SMEs

to save the cost that results from high employee turnover. The cost reduction in human

resources management will increase profit and improve the contributions to the

economy's GDP.

Having policies and strategies to reduce turnover and increase employee retention

has a positive impact on employee performance. Employees may be more encouraged

and motivated to perform better when they see that the organization is interested in their

well-being (Al-Ali et al., 2019). Bikefe and Daniel (2022) observed that employee

retention strategies and policies impact employee performance when the employees are

motivated. Motivation is an important factor in employee performance. Motivated people

tend to put in more effort, not necessarily for the extra pay but for other internal reasons

hence leaders of SMEs may need to keep studying about employee retention strategies in

SMEs to keep their employees motivated.

Transition

In section 1, I included the foundation of the study, the background of the

problem, the problem and purpose, population and sampling, nature of the study, research
 37
question, interview questions, conceptual framework, and operational definitions. Also

included were the assumptions, limitations, and delimitation of the study; the significance

of the study; and the review of the professional and academic literature. I included a

description and analysis of several sources about employee retention, employee turnover,

attrition, and strategies that may aid SMEs in retaining their talented employees. The

two-factor theory provided the conceptual framework to explore strategies small and

medium business managers in SMEs use to retain employees.

In section 2, I include the restatement of the purpose statement, the role of the

researcher and the participants, the research method and design, the population and

sampling, and the ethical research. Additionally, in Section 2, I add details regarding the

data collection instruments, the data collection technique, the data organization

technique, the data analysis, the reliability and validity, and the transition and summary.

In Section 3, I provide the presentation of findings, recommendations for employee

retention strategies, suggestions for future actions, reflections on the process, and results

from my research.
 38
Section 2: The Project

My focus in this qualitative study was to explore the different strategies business

leaders in SMEs adopt to retain their best-performing employees. Organizations adopt

different strategies to ensure they retain their employees, even though not all the

strategies are effective. In this study, I explored successful strategies that business leaders

in SMEs have adopted so far to retain their employees. In this project section, I include

the purpose statement, the role I played as the researcher, information about the

participants for the study, the research method and design I adopted, and information

about the population and sampling. I include in this section mechanisms I adopted to

ensure compliance with guidelines for ethical research. I also included the instruments I

used in collecting data, techniques I adopted in data collection, and techniques I used to

organize and analyze data. I explained the process I adopted to ensure the reliability and

validity of the study results.

Purpose Statement

The specific business problem was that some business leaders of SMEs in Nigeria

lack strategies to retain their experienced employees. The purpose of this qualitative

multiple case study was to explore the strategies that some business leaders of SMEs in

Nigeria have successfully implemented to retain their experienced employees.

Role of the Researcher

In qualitative research, the researcher and the participants are the keys to shaping

and influencing the interviews. The role of the researcher in investigating the research

questions is to engage with the participants to answer the research questions and
 39
summarize the participants’ experiences; hence the researcher is the primary data

collection tool (Karagiozis, 2018; Mikuska & Lyndon, 2021). I was the primary data

collection instrument in this research. As a researcher, I actively participated because I

engaged directly with the interview participants. In addition, I analyzed and interpreted

the data. To conduct this research, I selected my participants through a pre-interview

session to ascertain eligibility and gain the consent of my participants.

With my knowledge of the research topic and the relationship I had with my

potential participants, I identified a potential bias in the research. I run a personal

business and I interface with SMEs carrying out contracts for them. I have known and

interacted with business managers, and some have complained about their staff leaving

them when they needed them most. I live on an island, and it is difficult to get employees

because of the location. Employee turnover is a challenge for business owners in my

location and this informed my curiosity to research what successful strategies business

owners implement to retain their employees. I knew some of the participants personally

because we live in the same community, and I do business with some of them.

The Belmont Report is a guide to ensure that the participant’s rights are protected

during the research process and in the final report. A researcher should protect the rights

of the participants by following the three guiding principles of The Belmont Report: (a)

respect of persons, (b) beneficence, and (c) justice (National Commission for the

Protection of Human Subjects and Biomedical and Behavioral Research, 1979). I

respected the participants’ autonomy and confidentiality by obtaining the participant’s

consent before carrying out the research and their confidentiality is preserved in the
 40
research report. To ensure beneficence is achieved, a researcher should ensure that no

potential harm comes to the participants because of partaking in the research. I ensured

beneficence by preserving the participant’s confidentiality and not sharing the

information provided, ensuring that both the written and audio information was kept safe.

To ensure justice is achieved, the researcher should consider an equitable distribution of

participants. I selected participants from different SME industries. I asked the same

questions during all the interviews.

To mitigate the identified bias, I worked with an interview protocol as a guide.

One role of the researcher is to ensure that they adhere to the ethical commitment to the

protection of the participant’s identity (Tolchin et al., 2020). I used semistructured

interviews to ensure that the interview was directed toward answering the research

question. Yeong et al. (2018) noted that creating an interview protocol will present a

guide for the interview session in qualitative research. I put in detail the interview

questions which is clearly stated in the interview protocol. I designed the research

questions to exclude my personal opinions, beliefs, and previous knowledge about the

topic. I recorded the interview with the consent of the participants, and I did not interrupt

their responses so that my opinion was not reflected during the interview.

Participants

The population of this study was made up of business leaders of SMEs in Nigeria.

The criteria for selection of eligible participants for the study was business leaders in

SMEs in Nigeria who have successful employee retention strategies they implement to

retain their employees. The eligibility of the participant hinged on ensuring that the
 41
participant answered the overarching research question. To qualify as an eligible

participant in this research, the manager should have implemented successful employee

retention strategies with documented evidence to validate the strategies they have

implemented. To minimize bias, a researcher needs to pay careful attention to the process

of selecting participants (Jia et al., 2021). I used purposive sampling. The researcher uses

purposive sampling method to select participants intentionally to ensure that the source of

information will qualify to answer the research question (Johnson et al., 2020). Tarar

(2021) noted that the SME regulatory entity in Pakistan, SMEDA, has information about

the active SMEs in Pakistan. To understand the category of participants to engage, I

contacted SMEDAN, the entity in the Ministry of commerce and industry, that ensures

the registration and regulation of SMEs in Nigeria to identify active SMEs. I purposefully

selected the SMEs focusing on organizations with employees between 10 and 250 who

successfully implemented employee retention strategies.

To gain access to the participants, I reached out to the selection through telephone

calls and visits to their offices. In my first contact with them, I ascertained their

willingness to participate and in the process of establishing a working relationship, I

found out the organizations that have had loyal employees who have been with the

organization for no less than 2 years. To ascertain the eligibility of the participants, I

conducted a pre interview session to find out if the business leaders have documented

strategies, they implement to retain their employees. Then I presented the business

managers with the site agreement document. The site agreement was the partner

Organization Agreement for the DBA case study. It contained my introduction as the
 42
researcher, the name and contact information of the participant and examples of the

optional internal records they were willing to share with me. The site agreement also

included my responsibility as the researcher and a space where the participant will

append their signature, indicating their willingness to be a participant in the study. I used

their responses to determine if the participants met the study criteria before inviting them

for participation. To access the required information from the participants, the researcher

needs to select eligible participants, collect data, analyze the data, and interpret the data

(McHugh et al., 2019). I chose participants from different industries to see if their

experiences are comparable.

After I gained access to the participants, I presented them with the consent form,

to get their consent authorized by their signatures, and pre-informing them of a later

interview based on the interview protocol. Johnson et al. (2020) noted that one way to

maintain a good working relationship is by promising to share the transcribed interview

to ensure that all the information the researcher provided is captured in the interview. To

encourage participation, I communicated to the participants my willingness to be open to

sharing the transcribed interview summaries and the results of the research with them.

Sharing the transcribed interview summaries let the participants confirm the meaning the

I provided in the summaries was consistent with the intention of the interviewee.

Research Method and Design

Having an overall plan for conducting any research was essential in arriving at the

research result. This plan involved both the design, which was essential in answering the

research question, and the research method, that clarified the mode I intended to adopt in
 43
collecting data. It is important to have a clear understanding of where the plan leads,

which essentially is answering the research question.

Research Method

The method for carrying out the research is determined by the intention of the

researcher, the type of research to be conducted and form the responses are expected to

take. The three main research methods are qualitative, quantitative, and mixed methods

(Rutberg & Bouikidis, 2018). Researchers use the qualitative research method when their

intent is to collect and analyze the lived experiences of the participants (Rutberg &

Bouikidis, 2018; Saunders et al., 2016). Data may be collected by interviewing the

participants, observing the participants, or using other unstructured or semistructured

means (Clark-Kazak, 2022). Qualitative researchers use open-ended questions to discover

lived experiences and perceptions of the participants (Rutberg & Bouikidis, 2018;

Saunders et al., 2016). The interview questions in a qualitative study are semistructured,

that way the questions posed to the different participants are the same, but their answers

will be based on the various experiences of the participants. These experiences are

analyzed without using statistics (Basias & Pollalis, 2018). I chose the qualitative method

for this study to ask open-ended questions during a semistructured interview of business

leaders, to understand from the perspective of the business leaders the successful

strategies they have implemented to retain their employees.

When the intent is to collect and examine a phenomenon using numeric data, then

the quantitative research method can be adopted. Data is collected in an organized

manner in a quantitative research method and is typically used to explore the correlations
 44
between variables. (Basias & Pollalis, 2018; Saunders et al., 2016). Quantitative

researchers examine numeric data collected using questionnaires. Data acquired in

quantitative research are numerical in nature and are analyzed using statistics and

mathematics (Mohajan, 2020). The quantitative method was not appropriate for this study

because I did not intend to use structured interviews to collect data and I did not examine

any variables.

Sometimes, a researcher may want to conduct qualitative research and still want

to back up their findings by examining some numeric information in relation to the study.

Mixed method research includes qualitative and quantitative elements (McChesney &

Aldridge, 2019). Studies that require the researcher to collect data through observation

and interview of participants and then analyze the data using statistics are best carried out

using the mixed method. To explore employee retention strategies in SMEs, I did not

collect data using questionnaires or analyzing data using mathematics and statistics which

is part of a quantitative study or the quantitative portion of a mixed-methods study.

Research Design

The research design is the route the researcher wishes to follow in carrying out the

research. In a qualitative study, the researcher may choose any of the designs based on

the mode of data collection and getting the appropriate answers to the research question,

namely: (a) ethnography, (b) focus group, (c) narrative, and (d) case study (Tomaszewski

et al., 2020). I carried out a multiple case study. Looking at other qualitative designs, a

multiple case study was most appropriate for my study.

 45
In a qualitative study, the researcher aims to understand the meaning of the

phenomenon being studied from the participants’ experiences, and all the people involved

in the research have a role to play. Ethnography involves studying the culture of groups

of people, which may include observations to describe how the culture works

(Tomaszewski et al., 2020). Ploder and Hamann (2021) also noted that there is more than

one stage in conducting ethnographic research, and all the stages are essential for

complete ethnographic research. Ethnography was not appropriate for my study as I did

not observe the culture of the people but just interviewed the participants and relied on

their feedback. I did not go through all the stages of ethnographic research.

A focus group involves bringing together a group of people and moderating them

to answer the research questions. The group answers the questions in a discussion

through which qualitative data is collected as the participants interact (Keemink et al.,

2022). Even though the method is also used to understand the lived experiences of the

participants, I did not use the focus group design as I did not engage a group of business

leaders in a group discussion. Instead, I conducted a one-on-one interview with the

business managers.

A narrative design entails storytelling. With the narrative design, the participant is

expected to narrate an event, talking about their lived experience (Tomaszewski et al.,

2020). The narrative design may not necessarily involve an interview, but data can the

collected from participants’ letters, journals, or other sources that show the view of the

participants (Nasheeda et al., 2019). The method is used to engage with storied data, and

the view of the participants and the interpretation given by the researcher are both
 46
essential in a narrative design (Smith & Monforte, 2020). Narrative design was not

optimal as it involves both the storytelling or narrative of the participants and the

researcher’s interpretation.

To gain deep insight into a particular phenomenon, researchers may study

individual scenarios or cases. In a case study, a phenomenon is explored in depth in its

natural context and within a bounded system (Chong et al., 2021; Keemink et al., 2022).

Gioia (2021) noted that in a case study research, two scenarios are assumed, first, in the

social world or, in this case, an organization, people give meaning to things through their

interactions with others. Secondly, the people know what they are saying and can explain

to the researcher in clear terms their lived experiences (Gioia, 2021). A case study is

used mainly for researching interventions (Keemink et al., 2022). A multiple case study

design, on the other hand, involves an in-depth examination of data from various sources

to understand a particular phenomenon in its natural setting (Chong et al., 2021; Coplan

& Evans, 2021). Analyzing multiple cases is also a method of triangulating and provides

a basis for validating the findings (Coplan & Evans, 2021). Rashid et al. (2019) noted that

in a multiple case study, the researcher can gather data until saturation of themes is

reached. I explored successful employee retention strategies in SMEs in Nigeria using a

multiple case study.

In a qualitative study, choosing a suitable sample size is one hurdle a researcher

must cross. Hennink et al. (2019) noted that for a purposive sampling method, saturation

is the most appropriate method of determining the right sample size. Janis (2022) noted

that data saturation is greatly determined by the consistency of the data collected and
 47
thematic analysis, and determining saturation is dependent on the view of the researcher.

To address the research question, I opted to conduct a multiple case study because the

findings from a single case study may not have provided enough saturation of themes. I

continued to interview participants until no new themes emerged from the interviews and

summaries. I used the interview protocol in the Appendix, to ensure consistency in the

process, and I adopted member checking to ensure my recaps of the interview themes

aligned with the participants’ views. This design enabled me to gather data until I reached

the saturation of themes.

Population and Sampling

Population and Sampling

The population for this multiple case study comprised business leaders of SMEs

in Nigeria who have successfully implemented strategies to retain their employees. The

main aim of qualitative research is to understand meaning based on the experiences of

participants in the study. The adequate method for population sampling was based on the

research design. The research design for this study was a multiple case study and as such,

I chose to use a purposive sampling method to choose my participants. The purposive

sampling method is best suited for a study where the researcher needs to purposefully

identify participants who can answer the overarching research question (Campbell et al.,

2020; Gill, 2020). The convenience sampling method allows for participants to volunteer

for the research, but they may not have adequate information to answer the research

questions (Gill, 2020). Another sampling method, snowballing, which is sampling based

on referrals may also present the same challenges as convenience sampling (Gill, 2020).
 48
In my study, I identified organizational leaders who were well-versed in the information

required to answer the research question on employee retention strategies, hence my

decision to use the purposive sampling method.

Sample Size

Every eligible participant may be difficult to reach as such, it is important to

select an adequate number of samples to interview to establish that there is no

reoccurrence of new themes. An adequate sample size is a criterion that cannot be

overlooked in ensuring the rigor input in arriving at the study result (Vasileiou et al.,

2018; Young & Casey, 2019). Gill (2020) noted that no specific rules apply to

determining the sample size, the qualitative researcher needs to have collected enough

data from the selected sample to answer the research question. The sample size must be

sufficient to provide enough information required to understand the phenomenon being

studied.

Predetermining the right sample and size guides the qualitative researcher in

ensuring that the research question is answered. Gill (2020) noted that the qualitative

researcher should pre-determine a sample size adequate to answer the research question.

Two or three cases might be appropriate to replicate results; however, between four and

six samples will provide more compelling evidence for the results and take care of new

patterns (Yin, 2017; Young & Casey, 2019). The rationale for choosing four managers is

that the information gathered from at least four participants provided more compelling

evidence to reach saturation and provided rigor and trustworthiness of the findings,

incorporating all the variations in the different cases without new themes.
 49
For a case study design, the interview questions guide the quest for data

saturation. The researcher reaches data saturation when there is enough information to

replicate the study, and there is no longer added information with no other theme

available for coding (Fusch & Ness, 2015; Hennink & Kaiser, 2022). To ensure data

saturation, I continued to interview the participants and group the information gathered

from the interviews into themes until there was no further information that resulted in a

new theme.

The quality of a sample size is more important than the quantity in qualitative

research. The right sampling method must be applied to get the quality of participants

required. Shaheen et al. (2019) and Ames et al. (2019) noted that to identify participants

with rich information, who can answer the interview questions, the researcher can use the

purposive sampling method. I used the purposive sampling method to select participants

that provided sufficient information that answered the interview question. Solarino and

Aguinis (2020) noted that to access knowledgeable participants effectively, the researcher

may need to carry out broad conversations to spark the interest of the elite participant and

garner general information for the study. I ascertained the participant’s eligibility by

asking general questions about the organization and its rate of employee retention. I also

inquired if they have strategies, they implement to retain their employees. In selecting

participants for the study, I approached different SMEs in Nigeria to request an

opportunity to interact with their business leaders. For every organization I get access to,

I visited or contacted the leaders through the telephone. I requested to set up an

 50
appointment with the business leader with the intent to organize a pre-interview with

them to ascertain their eligibility as a participant in the study.

To achieve a seamless interview session, I requested an interview time and

location that was be convenient for the participants. To achieve the purpose of the study,

the location was free from distractions to avoid interruptions. Then I presented the

participant form and requested their consent to be a participant in the study. The first

four business leaders, who have successfully applied employee retention strategies, and

who consented in writing by filling out the participant’s form, were selected as

participants in the study.

Ethical Research

To carry out research work ethically, the researcher needs to ensure that the

participant fully understands their rights to protection. Pietrzykowski and Smilowska

(2021) noted that to ensure research work is worthwhile, a participant needs to be fully

involved in providing the required data for the study. A researcher needs to clearly

explain the process of the interview, the requirements from the participants and other

facts which may not be clearly understood without detailed explanation as found in the

consent form. This enables the participants to give their informed consent. It is equally

important to let the participant understand the purpose of the study. A clear understanding

of the purpose and the required information helped to validate the responses the

participants gave (Dankar et al., 2019; Millum & Bromwich, 2021). I collected data after

I received the IRB’s approval # 02-24-23-1058446. I also adopted The Belmont Report to

ensure that my participant’s information is duly protected. The Belmont Report provides
 51
three principles that, when adopted ensured an ethical protection of the participant as

follows: respect for persons, beneficence, and justice (National Commission for the

Protection of Human Subjects and Biomedical and Behavioral Research, 1979). Apart

from ensuring that there is no infringement on the participant’s rights, the responses are

more valid because informed consent was given. I have completed the Collaborative

Institutional Training Initiative Program course to ensure I have full understanding of the

rights of the participants. I applied the knowledge I have acquired in this course in

carrying out this research.

I set up a meeting with my participants to explain the purpose of my research and

the details in the consent form. In obtaining their consent, I clearly let them understand

their rights to privacy and that the information they share with me will be well preserved

in a folder on my computer and an external drive and will not be shared over social

media. To ensure confidentiality, I did not mention the name of the organization in my

study, but I gave each participant a code to represent the information I got from them.

The data collected for the research in electronic form were stored away in an external

drive, passworded, and will be preserved for at least 5 years. The hard copy documents

collected were stored in a safe. All documents collected for this research, both soft and

hardcopies records will be destroyed after 5 years.

Participants were not penalized, and their work and social statuses were not

affected negatively if they chose to withdraw their consent. I made it clear to them that

they are not under any restriction to withdraw their consent from the research if they so

wish. Dankar et al. (2019) noted that the same ease with which consent is obtained should
 52
be the same ease with which withdrawal from participation should be granted. I let the

participants understand their right to withdraw from their participation if they so wish. I

also let them know that they can communicate to me their decision to withdraw either by

a call or through email.

Participants, especially business leaders, may not want to give out certain

information about their organization except their organization benefitted from the

information given out. Vellinga et al. (2020) noted that with incentives, a researcher can

easily get more participants’ consent. l did not give any monetary incentive to

participants to receive their consent. However, I offered to share with them my findings

from the study, and this encouraged them to accept to participate knowing that my

findings may be beneficial to them.

Data Collection Instruments

As the researcher, I am the primary data collection instrument. De Loyola et al.

(2022) noted that the qualitative researcher is the data collection instrument and the data

analyst. McGrath et al. (2019) further noted that as the primary instrument for data

collection, the researcher should be aware that their role is critical in ensuring the quality

of the data collected. The researcher must not be biased; however, with the right

interviewing skills, they should be a co-creator of data with the interviewee. To

corroborate the interviewee’s responses, I requested additional documents to further

validate the interviewee’s claims, like company training documents, records, etc.

As the primary data collection instrument, I used semistructured interviews to

determine what retention strategies managers in SMEs use to retain their employees. The
 53
purpose of interviews is to understand the interviewees’ point of view in line with the

subject under study (Moser & Korstjens, 2018). Semistructured interviews are used to

create a flexible interview, such that the interview is structured enough to be guided by a

set of interview questions and flexible enough for the researcher to ask probing questions

where clarity is required (McGrath et al., 2019; Mselle et al., 2018). Having

conceptualized the research problem after a review of relevant literature, I used an

interview protocol in the Appendix, to conduct semistructured interviews. The essence of

the interview protocol is to allow for consistency when analyzing the information

retrieved from the interview. Roberts et al. (2021) noted that the research question and

interview protocols must align with the study’s purpose and design. The interview

questions I prepared aligned with the research question to address the problem statement

and achieve the purpose of the study. These questions were used as a guide during the

interviews and for all the participants during the research process.

To enhance the reliability and validity of the data collection process, I adopted

member checking to ensure that the participants corroborate my analysis of their

responses. De Loyola et al. (2022) noted that to validate the information gathered from

the interview, it is important that in analyzing the data from the participants, the right

interpretation is given by the researcher using member checking. Member checking

involves reaching out to the participants to get them to either confirm the identified

themes or refute them (Hamilton, 2020). Getting the participants to confirm that my

interpretation of their responses aligns with what they implied improves the reliability

and validity of the data collected.

 54
Data Collection Technique

In qualitative research, the technique used should be such that it will allow a

better understanding of the participants’ experiences. Qualitative researchers may use

interviews to collect data from their participants (Barrett & Twycross, 2018; Moser &

Korstjens, 2018). My data collection technique was conducting a semistructured

interview with open-ended questions to help me thoroughly explore the interviewee’s

experiences. The interview was guided by an already prepared interview protocol, as seen

in the Appendix. DeJonckheere and Vaughn (2019) noted that to carry out a successful

semistructured interview, the researcher needs to establish rapport with the interviewee.

Establishing rapport with the interviewee encouraged the flow of conversation, removed

the awkward feeling that goes with the transactional question-answer approach and set

the interviewee at ease.

Some of the advantages of semistructured interview is that the interview is guided

by a set of interview questions, which are asked in an open-ended format. This method

allows the interviewee to fully express their views based on their lived experience, rather

than providing a list of responses and expecting the participants to align with any of

them. McIntosh and Morse (2015) noted that with unstructured interviews, the

interviewer has no control over the responses of the participants. On the other hand, with

a structured interview, the participant’s lived experiences may not be freely shared.

Hence the use of a set of interview questions that guided the participants in conversations

with the interviewer. One disadvantage is that even with semistructured interviews,
 55
certain important questions may not be asked in the interview questions. Some of the

responses may not fully express the views of the participants.

I informed the participant that I recorded the interview with an audio recorder and

simultaneously took notes. I also requested that the interviewees share relevant

documents to corroborate the information supplied during the interview. The additional

company documents helped authenticate the information the interviewee gives. Brown et

al. (2020) noted that to carry out an ethical interview, it is important for the researcher to

obtain informed consent from the participants in every study, especially the vulnerable. I

assured the interviewee of my willingness to preserve the confidentiality of the

recordings as well as the relevant organizational documents they shared with me.

Comparing my notes with the transcription helped me analyze my collected data. I

conducted member checking with each participant to ensure that my analysis captured the

interviewee’s thoughts and to further strengthen the reliability of the data. This ensured

that the themes I identified as strategies for employee retention align with the

interviewee’s shared meaning.

Data Organization Technique

I conducted a semistructured interview to explore how business leaders in SMEs

retain their experienced employees. Qualitative interviews generate a large amount of

data, and organizing the data collected is a critical step in data analysis. Lester, et al.

(2020) noted that considering the number of hours expended during the data collection,

the amount of information gathered is significant, and it is essential to properly organize

the data in format that will aid analysis and produce meaning. The interview was
 56
recorded with an audio recorder, and I took notes. I labelled each participant from P1 to

P5 in my notes. I transcribed the audio recording using a computer-assisted tool, labeling

each participant's interview session as P1A - P5A, with P1 A representing participant 1

audio and P5A representing participant 5 audio. This helped me know how to compare

and summarize the data from my note taking with Participant's audio transcription. Using

Microsoft Excel, I grouped the data into themes. In addition to the information gathered

from the interview, I requested additional documents from the organization to corroborate

the information obtained during the interview. The electronic data were stored in an

external drive, and hard copy data documents, which include the company documents,

were preserved in a safe. The audio recording and the company documents will be

preserved for 5 years and then destroyed afterward.

Data Analysis

In qualitative research, the data collected during an interview of participants,

including the supporting documents gathered, are still in their raw state, and they need to

be processed to get the information required to determine the research findings. Data

analysis is the process of working with unstructured data for the purpose of conducting

research on a phenomenon (Hammersley, 2021). Lester et al. (2020) and Yin (2017)

advised the qualitative researcher to map out a strategy for analyzing the raw data, to be

able to make sense of it. To adequately analyze the data, Yin advised a 5-phase process

involving data compilation, disassembling the data, reassembling the data, interpreting

strategies the data, and drawing a conclusion (Yin, 2017). Triangulation is an essential

step in data analysis because it helps enhance the quality and validity of a case study
 57
(Farquhar et al., 2020; Fusch et al., 2018). Methodological triangulation has been noted

as the best method for a case study design since it helped mitigate the researcher’s bias

(Fusch et al., 2018). I adopted methodological triangulation because, in addition to the

data generated from the interview, I collected data from training manuals and company

policy documents within the cases. The training manual and policy documents are

expected to either corroborate the responses of the interviewees or refute it. Where the

responses of the interviewees corroborated with the training manual and other policy

documents, it further strengthened the validity of the analysis. Where on the other hand

the training manual and the policy documents refuted the responses of the interviewee,

then I sought clarification.

I adopted a logical and sequential strategy in analyzing the data. In the start, I

asked each participant the same interview question as found in the interview protocol in

Appendix. The first stage of data analysis is the compilation stage. I transcribed the

recorded interview using the office 365 Microsoft word transcribe feature, a computer-

assisted tool. Yin (2017) noted that qualitative data analysis could be done using a

computer-assisted tool. I edited the transcript to ensure the audio interviews align with

the transcription. I used labels to identify each speaker, and I compiled the edited raw

interview texts by arranging the responses to each interview question according to the

participant’s responses. I carried out member checking by sharing my interview summary

with each interviewee to identify misrepresented responses; then, I adjusted accordingly,

with a few additions by the interviewees which they recollected during the member

checking. Then I compared the company documents to ensure that the documents align
 58
with the responses of the participants, and where it was different, I clarified with the

participants. Fusch et al. (2018) noted that triangulation could be done by using an

interview protocol and member checking to mitigate the researcher's bias. The second

phase in the analysis is the disassembling process, which involves breaking the compiled

data into smaller manageable bits. I arranged the responses to each interview question

using the office 356 Microsoft excel sheet. Yin (2017) suggested starting with the

interview questions and then linking the responses that answer each research question. I

used the transcript for all the participants to identify themes and concepts that answer the

overarching research question.

The reassembling phase is the third stage, where the coding in the first two phases

is further narrowed down. Yin (2017) noted that the reassembling step involves

identifying patterns from previous codes. I used commonly identified employee retention

strategies as themes and then analyzed the summary of the interviewee’s responses based

on the pre-determined themes. I made provisions for additional themes that may come up

on the spreadsheet even though no additional theme came up. Finally, to interpret and

conclude the process, I matched the identified themes with the pre-determined strategies

to check for similarities and alignment. I found the relationship between the codes and

how they answered the research questions. Then, I compared my results to the conceptual

framework and newly published results to establish an alignment or misalignment.

Reliability and Validity

Ensuring the credibility and trustworthiness of the qualitative research process is

critical to maintaining the quality of the results from this design. Rose and Johnson
 59
(2020) noted that the research design needs systematic rigor to achieve trustworthiness,

the researcher must be credible, and the findings believable and applicable in similar

scenarios. To demonstrate the trustworthiness of the research, the researcher needs to

ensure that the criteria of credibility, dependability, confirmability, and transferability are

met.

Reliability

Reliability describes how dependable the result of the research is. Roberts et al.

(2019) noted that reliability is one of the qualitative research components that helped

demonstrate trustworthiness. Reliability is based on the need to ensure that the data

presented is adequate and consistent with other participants in similar circumstances

(Spiers et al., 2018). To ensure dependability of the research process, I confirmed my

summary of the audio recording and my notes using member checking. Ranahan and

Keefe (2022) suggested that to eliminate bias and ensure that the result of an interview is

reliable, the researcher should confirm results with participants using member checking.

Triangulation, which involves using multiple data sources, enhances reliability (Fusch et

al., 2018). I also have access to company documents as another source of data to

corroborate the information from the interview.

Validity

Every stage in qualitative research must be handled reliably and transparently to

ascertain validity. Hayashi et al. (2021) noted that the quality of results in a qualitative

study would be enhanced if the right process is adopted and data saturation is reached to

achieve validity. Data saturation is attained when additional insights or themes can no
 60
longer be identified in the data analysis (Hennink & Kaiser, 2022). To ensure the validity

of this study, I used pre-determined themes based on reviewed literature. I made

provisions for new themes or codes that may arise during the data analysis. I carried out

the interview using an interview protocol to ensure consistency in the interviews among

the participants. To mitigate bias and confirm my interpretations of the interview

transcription, I conducted member checking after transcribing the audio recordings from

the interviews. Member checking enabled the participants to correct, confirm and include

additional information, if necessary. I corroborated the participant’s response with other

data sources, like the organizational training manuals and policy documents, to ensure

validity.

Credibility

To ensure the validity of a research finding, the process must be credible.

Credibility shows the extent to which a research finding is factual (De Loyola et al.,

2022). It is the degree of confidence of truth in the research findings (McGinley et al.,

2020). In qualitative research, different strategies are adopted to increase rigor and

enhance the credibility of the study, including triangulation, member checking, prolonged

engagement, etc. (De Loyola et al., 2022; McGinley et al., 2020; Santos et al., 2020).

Credibility should be based on the lived experience of the participant, in this case, the

interviewee, and not tainted by the researcher’s bias (McGinley et al., 2020).

Triangulation involves providing different perspectives on the research finding. To

provide triangulation, I collected other company documents, like training manuals and

policy documents, to verify the responses given by the participants. I engaged in member
 61
checking severally with the participant to enhance rigor and ensure that I captured the

position of the participants adequately. To provide consistency in the process, I used the

interview protocol, as seen in the Appendix, to conduct the interview.

Confirmability

Confirmability is enhanced when others can confirm and support the results of a

study. To establish confirmability, the researcher needs to provide a trail that will guide

readers and other researchers to follow and evaluate the process to achieve a similar

outcome (Nguyen et al., 2021). I recognized the possibility of being biased as a

researcher in this study because of my experience in employee retention strategies in a

non-profit organization. With this consciousness, I did not bring up my experiences in the

non-profit organization during the interview, but I used the interview protocol in the

Appendix to guide my interview process. McGinley et al. (2020) noted that biases when

stated during research are only preconceptions. McGinley et al. also noted that the

neutrality of the researcher helped ensure confirmability of the study. Having mentioned

my possible bias on the subject under study, I was neutral during the interview session

and in summarizing the transcribed audio. I also conducted member checking to ensure

that I align with my participant’s perspectives on the results. The interview protocol

guided confirmability and ensured any inquirer can follow it to confirm the results.

Transferability

Transferability in qualitative studies ensures that research results can be replicated

by other researchers anywhere in the world using similar designs and methods. Stahl and

King (2020) noted that an essential aspect of qualitative research is that the results are
 62
transferable, and others can pick up from where a researcher stopped to improve on the

research. McGinley et al. (2020) described transferability as the applicability of the

research findings not just to the researcher or the participants but to others. McGinley et

al. also noted that in qualitative research, to ensure transferability, the researcher needed

to properly define the context of the study and make recommendations for further

research. To further ensure the transferability of the findings of my research, I followed a

detailed methodological approach, using a known research design and methodology to

conduct the research. I adopted the purposive sampling method to select business leaders

who have successfully applied employee retention strategies. I conducted the interview

using the interview protocol in the Appendix.

Data Saturation

In qualitative research, it is essential to note when enough data has been collected

before the researcher can proceed with the data analysis. Saturation is a concept that

qualitative researchers use to indicate that the data collected is enough to answer the

research question (Hennink & Kaiser, 2022). When enough interviews have been

conducted that no new themes emerge from further interviews, thematic saturation is

achieved. I continued to interview participants and carrying constant member checking

until I reached thematic data saturation. Data saturation was reached when the

participants cease to give new information, and further questioning did not offer anything

new about the phenomenon (McGinley et al., 2020). McGinley et al. further noted that

the aim of transferability is to ensure external validity, such that other people other than

the researcher or the participants can apply the research findings with similar results.
 63
Considering the measures, I adopted in carrying out the research, other persons can use

the conclusions of this research to retain their employees.

Transition and Summary

In section 2, I restated the purpose statement, my role as the researcher, and that

of the participants. I described who the eligible study participants were, explained the

research method and design, and provided information on the population, sampling

method, and sample size. I included how I intend to conduct ethical research based on the

approved requirement. I provided information on my intended data collection

instruments, technique, and the data organization technique I used. I explained the data

analysis approach I adopted and how I ensured the process's reliability and validity,

describing the process's credibility, confirmability, and transferability.

Section 2 provided a basis for a smooth transition into section 3, where I present

the study’s results, the conclusion, how this study can be applied to professional practice,

its implication for social change, and the recommendations.

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Section 3: Application to Professional Practice and Implications for Change

Introduction

The purpose of this qualitative multiple case study was to explore the strategies

that some business leaders of SMEs in Nigeria have successfully implemented to retain

their experienced employees. The following themes were identified: (a) training and

development; (b) management and leadership style; (c) organizational culture; (d)

financial and nonfinancial benefits.

The findings of the study revealed that talent management and capacity building

are strategies that, when implemented, resulted in employees seeing their future on the

job, driving them toward attaining their career goals. Employees freely participated in the

decision making and execution of business goals, which gave them a sense of

accomplishment, especially when their contributions were recognized and rewarded. An

upbeat organizational culture can create a positive and friendly workplace, where

communication is encouraged, conflicts amicably resolved, and mistakes treated as

accidents and opportunities to grow. The findings also showed that proper onboarding of

new employees results in active involvement of the employees in the day-to-day running

of the business gives them a sense of purpose and ownership. The result showed that

caring for the employee’s well-being is an essential aspect of employee retention in

Nigeria. The employee’s well-being can be catered for emotionally, psychologically, and

financially. Finally, considering Nigeria is a developing country, financial and

nonfinancial benefits are essential to encourage employee retention.

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Presentation of the Findings

The overarching research question for this qualitative multiple case study was:

What strategies do business leaders in SMEs in Nigeria use to retain their experienced

employees? Findings showed strategies that business leaders use to retain their

employees in Nigeria. The four themes that emerged from the data analysis are displayed

in Tables 1 to 4, and they include: training and development, management and leadership

style, organizational culture, and financial and nonfinancial benefits.

Theme 1: Training and Development

Theme 1, as displayed in the table, showed the role that the training and

development of employees play in employee retention. Table 1 indicates that based on

the participant’s responses, talent management, and capacity building are both essentials

in training and development; hence, they are subthemes. The training policies of the

organizations confirmed this position.

Table 1

The Role of Training and Development

Subthemes Frequency Percentage

Talent management 7 50

Capacity building 7 50

Total 14 100

Note. Frequency is the number of times the subtheme was found in the data collected,

while the percentage shows the rate at which each subtheme appears expressed as a

fraction of 100.
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From the view of the participants, ensuring that proper onboarding is carried out

and employees are put in roles that align with their skills is essential to retaining them.

O1 and O2 provided different types of training for both new employees and experienced

employees. O1 is open to students going through industrial training with them, and from

the pool of successful trainees, they select some of their employees. The training policies

in the human resources (HR) document for O1 stated that the organization provides

induction training for all new employees, providing job-specific training, including health

and safety information for all new and existing employees who are changing jobs and

disciplines within the company. O2 also provides development opportunities for all

employees, monitors individual training requirements and objectives, etc. All these

provisions in the policy documents corroborated the assertions of the participants. O2

trains students in their organization and retains the outstanding ones if they agree to stay

with it. To ensure adequate talent management, O1 and O2 employ skilled staff for

specific positions and ensure they are placed in such roles. This makes the staff function

maximally in their skill, making them more productive. Employees are encouraged to

stay if they are satisfied and achieve results that earned them recognition. To adequately

manage talents, P1 adopts the strategy of leaders mentoring junior employees and

providing training to them on the job. According to the HR policies of O1 and O2,

employees undergo professional training to grow their capacity for new technologies. P2

and P4 handle weekly personnel development training, and to enhance the capacity of

experienced employees, P2 invites professionals to train employees on new technologies.

P3 organizes onboarding and induction sessions for new ad-hoc staff. P4 hires skilled and
 67
unskilled employees. The unskilled employee is put under a skilled employee to

understudy them for 6 months and is only certified fit to use the machines if they are

successful. O2 encourages their skilled employees to look out for courses that enhanced

the quality of their work and sign up for them. The organization supports the training

financially up to a certain amount. Alrawahi et al. (2020) noted that opportunities for

growth and advancement are satisfiers, and when employees have opportunities to grow

and advance their careers, it motivates them. Training and development of employees

help in growing and advancing the careers of employees, and so is an essential strategy

for employee retention. Based on my finding, growth and advancement can come about

because of talent management and capacity building, and it aligns with Herzberg’s two-

factor theory of motivation.

Correlation With the Conceptual Framework

One of the motivators in Herzberg’s two-factor theory is an opportunity for

growth and advancement. Talent management ensures the employee is best positioned to

perform maximally (Elsafty & Oraby, 2022). High-performing employees are recognized

and rewarded with advancement in their careers. On the other hand, capacity building

enables employees to keep increasing production and abreast with industry technology.

Employees are prepared to step into higher roles, and this can be motivation to stay with

the organization. Opportunity to grow is one of the motivation factors; according to

Herzberg two-factor theory (Singh & Bhattacharjee, 2020). Growth and advancement, a

satisfier in Herzberg’s theory, can lead to employee retention (Herzberg, 2003).

 68
Organizations embark on talent management and capacity building to achieve growth and

advancement.

Correlation With Literature

All the participant organizations adopt training and development as a strategy for

employee retention, aligning with previous and recent research findings. The findings

from this study on training and development align with Kandukuri (2023). Kandukuri

identified talent management and capacity building as a strategy showing the

organizational interest in recruiting, building, and retaining a thriving workforce. The

findings in the study about the importance of proper onboarding activities align with the

Ghani et al., 2022). The importance of properly integrating the employees cannot be

overemphasized. Development opportunities motivate the employees by encouraging

personal growth, and career growth, which resulted in the employee’s career

advancement (Khatun et al., 2023). Training and development opportunities align with

recent studies that are a strategy for employee retention.

Theme 2: Management and Leadership Style

Theme 2 shows the role of management and leadership style in encouraging

employee retention of experienced employees. The company policies indicate the core

values upheld by the participant organizations and support the management and

leadership style of the participants. The subthemes that emerged from the responses

indicate that the management and leadership style practiced in the participant

organizations encouraged employee engagement and employee participation.

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Table 2

The Role of Management and Leadership Style

Subthemes Frequency Percentage

Employee engagement 8 61.5%

Employee participation 5 38.5%

Total 13 100

Note: Frequency is the number of times the subtheme was found in the data collected,

while the percentage shows the rate at which each subtheme appears expressed as a

fraction of 100.

The organization’s management and leadership style encourage or discourage

employee engagement and participation. The management and leadership style that

encourages employee engagement and participation motivates and encourages employee

retention. Based on the data collected, the management style indicates that management

ensures proper onboarding and induction activities when an employee is newly engaged.

This ensures that the employee is aware of the expectations of the company and the roles

they are meant to play, and they are adequately schooled on the organization's vision,

mission, and values. Management engages with the employee by keeping an open-door

policy, where regular communication is encouraged. P2 engages weekly with the

employees, and in these meetings, training on personal development is conducted, weekly

expectations are communicated, and general feedback is taken as well. The management

and leadership style in P2 is transformational and encourages a family-like relationship in

the organization, with a clear leadership hierarchy. Cordial relationships are encouraged,
 70
especially between colleagues at the same and different levels. P2 is interested in the

quality of employee performance and well-being. P1 carries out a well-structured

induction and onboarding process that encourages a mentor-mentee relationship in the

organization. P3 works directly with employees, so there is constant communication with

them. P2 and P3 treat honest mistakes and damages by employees as part of the cost of

wear and tear; however, they engage with the employee to ensure that lessons are taken

from the incident. Management operates in a democratic style of leadership where

employee participation is encouraged in the day-to-day running of the business. People

are usually more committed to projects where expectations are clearly defined, and they

are part of both the decision-making and execution of the project. P2, in engaging with

the employees, discovers the strengths of some of the employees and challenges them in

the areas of their strength. P2 does this by challenging the creativity of such employees

by providing the enabling environment and tools to function maximally. P4 regularly

engages with employees online and offline, and feedback is given and received regularly.

P4 also maintains an open-door policy, where employees can relate directly to

management. The constant engagement ensures that expectations are spelled out clearly,

and corrections can be made instantly. Constant engagement also ensures that conflicts

are resolved promptly and not allowed to build up, creating a healthy work environment.

P3 constantly assigns responsibility to employees to give them a sense of ownership,

which makes them feel valued and included in the day-to-day running of the business. P4

ensures proper induction and onboarding of new employees. Induction and onboarding

activities are supported by the HR documents that show that employees are placed under
 71
the guidance of a superior for a probationary period and are then absorbed fully into the

system afterward. An employee engaged adequately in the organizational activity is more

motivated to carry out their duties more effectively than a disengaged employee. A

motivated employee will most likely actively participate in the organization’s activity

(Kwon & Park, 2019). Based on my findings supported by company documents, the

management style that creates an enabling work environment to encourage the

engagement and participation of employees is instrumental to employee retention.

Correlation With the Conceptual Framework

Managing a successful organization requires good engagement and supervision by

business leaders. According to Herzberg’s theory of motivation, the absence of good -

quality supervision and good interpersonal relationships can result in employee

dissatisfaction (Herzberg, 2003). These are essential factors in management and

leadership style in an organization. To adequately engage employees, encourage

participation, and reduce dissatisfaction in the workplace, the management needs to have

an excellent interpersonal relationship with their employees and suitable supervision in

place (Zen, 2023). Hossan et al. (2020) noted the link between leadership styles and

employee engagement. They supported the idea that an excellent interpersonal

relationship, a hygiene factor in Herzberg’s theory of motivation, especially between

leaders and subordinates, will encourage employee engagement. Employee engagement

and participation which results from the appropriate leadership style, can encourage

employee retention.
 72
Correlation With Literature

Management and leadership style influence the level of engagement and

participation of employees. Based on the data collected from the interviews and company

policy documents, all the participants’ management and leadership styles support

employee engagement and participation. According to a study by Peramatzis and

Galanakis (2022), engaged employees are motivated to stay with the organization. This

view is also supported by Mgaiwa (2023), who agreed that the leadership style adopted

by organizational leaders plays a significant role in employee job satisfaction. A

transformational leadership style influences job satisfaction rather than a transactional

leadership style (Mgaiwa, 2023). It is also important that to engage an employee, a

proper onboarding process should be implemented to ensure that the right fit of

individual is tied to jobs where they can function maximally, resulting in reduction in job

hopping (Siew et al., 2023). The findings from this research are in line with the results of

recent literature on the issue of employee retention.

Theme 3: Organizational Culture

Theme 3 shows the role a favorable organizational culture plays in employee

retention. I discovered that the organizational core values drive the culture of the

participant organizations, as seen in Table 3. The responses I gathered from the

participants show five subthemes that are indicators of a solid organizational culture:

community and positive work environment, work-life balance, communication,

opportunities for growth, and recognition.

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Table 3

The Role of Organizational Culture

Subthemes Frequency Percentage

Community and positive work 15 41.7%

environment

Work-life Balance 5 13.9%

Communication 4 11.1%

Opportunities for growth 8 22.2%

Recognition 4 11.1%

Total 36 100%

Note: Frequency is the number of times the subtheme was found in the data collected,

while the percentage shows the rate at which each subtheme appears expressed as a

fraction of 100.

Fifteen responses from the participants indicated a sense of community and a

positive work environment. Five responses indicated that the organization maintained a

work-life balance, shown mainly by official leave periods approved by the organization,

and parties, to appreciate employee contributions and off days. Another indicator of

organizational culture is the role of communication. The participant organizations keep

an open line of communication between the employees and business leaders. The

opportunities for growth and recognition of employees’ contributions are all indicators of

a robust organizational culture identified from participants’ responses.

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P1 organizes an annual event where the best-performing teams are recognized.

This is consistent with the organization’s culture and keeps employees looking forward to

the reward they receive at that event. Employee recognition is captured in the

organization’s monthly team average report, where rewards are given for various

categories: excellence in operations, customer relations, teamwork, etc. O2 has an

appraisal policy, where superiors appraise the work of their junior colleagues and

recommend those who qualify for recognition. P2 recognizes and rewards the best-

performing employees. P3 is in the habit of verbally acknowledging excellent

performance, which encourages the employees and makes them put in their best efforts.

P4 gives instant feedback on employee performance, whether positive or negative. Instant

recognition and reprimand help the employee to know they are seen and acknowledged

and also to help them know the expectations from leadership.

Regarding community and positive work environment, O1 has continuous

improvement as part of its company policies. O1 creates a mentor-mentee relationship

between superior and subordinate. In order to grow the capacity of mentees, they are

sometimes encouraged to step into their mentor’s shoes in their absence, and when their

performance is outstanding, they are rewarded. P1 prepares subordinates to take over

from them when they leave the office, creating a positive work environment and a sense

of hope that they will grow in their career. P2 operates the golden rule principle, aligning

with the core values as stated in the policy document. P2 encourages a family-like

relationship at work with an operational hierarchy system. P2 introduces teamwork in a

positive work environment, where employees are involved in a particular process, they
 75
are encouraged to work as a team to deliver on time. They are rewarded when they

deliver on time. This also creates a positive work environment with an enabling

environment to grow. P3 is innovative and creates an environment that encourages

employees always to take things a bit higher than the status quo. This keeps them ahead

of their contemporaries, and employees want to work in a community with continuous

improvement. P3 operates a no-blame culture where they will instead learn from a

mistake, regardless of who may have committed them, rather than blame the employee.

They instead treat the cost of such damage as part of the business cost of wear and tear.

However, P3 admonishes employees when they misbehave to avoid repetition. This work

environment encourages employees to have a learning and growth mindset and makes

them more productive. P3 being a home-run business treats its employees professionally

and with respect. P4 insists on the teamwork of employees and encourages constant

feedback within teams. The employees in O4 are also encouraged to take responsibility

and make decisions pertaining to their roles. The work environment in O4 encourages

planning, as the day’s work priorities are set and followed strictly. This makes the

employee more focused on achieving the day’s targets.

Work-life balance in O1 to O4 is practiced through approvals of annual leave

periods. The leave can be taken at once or in bits; O1 has a schedule for leave so

everyone does not go on leave at the same time. O2 and O3 insist that advance

information is given to the business leader for proper arrangements for colleagues to

stand in for the employee on leave. O1, O2, O3, and O4 organize end-of-year parties to
 76
celebrate achievements for the year. The end-of-year party is a strategy to create work-

life balance and a sense of community.

Communication is another point practiced by the participants. P1 engages with the

employees to ascertain their satisfaction with the job. P1 conducted an anonymous call of

supervisors in O1 during the COVID-19 lockdown period to ascertain their job

satisfaction. P1 offered them higher remuneration, but they refused because of the

benefits they got from their current company. P2 maintains an open door policy, so the

employees can approach their superiors to give feedback, seek clarification about their

work, and engage in other forms of communication. P2 is also interested in the quality of

work of the employees as well as their well-being. P4 communicates their expectations to

the employee and ensures they are acknowledged well when performing excellently.

When employees see that an organization provides an environment to encourage

growth, they are encouraged to stay with it. P1 provides training and continuous training,

especially when new machines and methods are purchased. This kind of training keeps

the employee relevant in the industry. Special training is given to experienced employees

to keep them abreast of recent technology. P2 invites professionals to train their

employees on recent technology. The drive toward excellence and innovation makes P3

invest in new knowledge and impart it to employees so they can learn and grow.

Correlation With the Conceptual Framework

Organizational culture includes beliefs, values, and practices guiding team

members' behavior. Organizational culture can affect the employee positively or

negatively. According to Herzberg’s theory of motivation, the company policy of an

 77
organization is a hygiene factor that and embedded in the company policy are the

values and expected practices of the organization. Lee and Lee (2022) noted that a

positive work environment could influence an employee’s job satisfaction.

Organizational culture may contain both motivators and hygiene factors. Based on the

findings, some of the themes identified fall under hygiene factors while others are

motivator factors. Motivator themes adopted as part of the organizational structure

include opportunities for growth and recognition, while the hygiene factor includes

community and positive work environment, work-life balance, and communication.

The subthemes in the findings justify the use of Herzberg two-factor motivation theory

as the study's conceptual framework.

Correlation With Literature

Theme 3 focuses on the influence of organizational culture on employee retention.

The subthemes identified under organizational culture include community and positive

work environment, work-life balance, communication, creating opportunities for growth,

and recognition. Tarar (2021) opined that ensuring a positive work environment is

instrumental to employee retention. Activities to boost work-life balance, encourage a

sense of community, creating opportunities to grow are elements of an organizational

culture that would result in employee retention if managers adopted them. In a recent

study, Arena et al. (2023) discovered that cultivating the right organizational culture

where positive energy is encouraged by building trust, collaboration, and open

communication is instrumental to employee retention. An organization where the

leadership supports open communication will encourage employees to stay as it

 78
encourages employees to understand expectations from the organization and give them

the opportunity to express themselves (Doescher, 2022). The research findings show that

cultivating the right organizational culture is vital for encouraging employees’ decisions

to stay and the subthemes align with these recent studies.

Theme 4: Financial and Nonfinancial Benefits

Theme 4 shows the role of financial and nonfinancial benefits on employee

retention. The responses I gathered from the participants during the interviews showed

four subthemes related to financial and nonfinancial benefits: recognition and rewards,

loan scheme, reasonable remuneration, and gifts.

Table 4

The Role of Financial and Nonfinancial Benefits

Subthemes Frequency Percentage

Recognition and rewards 4 20%

Loan scheme 2 10%

Reasonable remuneration 4 20%

Gifts and fringe benefits 10 50%

Total 20 100

Note: Frequency is the number of times the subtheme was found in the data collected,

while the percentage shows the rate at which each subtheme appears expressed as a

fraction of 100.

I found that employees are interested in the financial and nonfinancial benefits

offered by the organization. From the interviews, the different participants confirmed that
 79
the extra benefits they offer their employees stand out as strategies that make their

organization one of the ideal organizations to work with in Nigeria. O1, O2, O3, and O4

organize annual best-performing employee awards. O1 has a structured way of

identifying the best-performing departments and teams, which narrows down to the best-

performing employee. All the participant organizations have a system of rewarding

excellent performance. O1 and O2 organize long service awards, where an employee who

has stayed with the organization for up to 10 years is especially recognized and given a

special gift.

P1 and P2 implement the loan scheme of their organizations, respectively. In O1,

confirmed employees are entitled to the organization’s zero-interest loan scheme. In O2,

employees can ask for loans, up to 20% of their annual net salary. All employees who

have worked up to 1 year with no disciplinary case are entitled to the loan. According to

the policy document, repayment must be made in 6 months. The loan scheme helps the

employees finance some immediate needs which they may not have the means to handle

given the bulk sum involved and what they can afford. For O1, the employees can spread

out their payback within 1 year. P4 grants salary advances and sometimes soft loans to

help employees meet immediate needs.

All the participants agreed that giving reasonable remuneration is an essential

strategy for employee retention because employees will compare remunerations and go

for jobs that offer higher remuneration. When P4 started, the organization lost three

employees because the remuneration was lower than what was obtainable in the industry.

P4 conducted benchmarking activities to ascertain what is obtainable in the industry, then

 80
increased it. P2 pays reasonable salaries and a little above what is obtainable in the

industry; starting salaries before probation are higher than what is obtainable in the

industry and increase after a successful probation period. The salaries of experienced

employees are higher, and an additional half is paid in the 13th month for all employees.

Gifts and other benefits are themes that emerged as strategies for employee

retention. In O1, used cars are auctioned at reduced prices to experienced staff. Some of

the employees look forward to these auction sales. O1 also gives medical insurance for

all employees covering a spouse and up to four children in the family. P2 sources

experienced employees from all over the country to the Island where the business is

located and provides accommodation for employees from far places to encourage them to

stay. P2 also makes allowance for relocation allowance including transportation.

Employees who have worked with O2 for up to a year are entitled to a parting gift if they

need to go. Even though they need to give up to 2 months’ notice to enable the

organization to source for a replacement. The organization sets aside an amount for each

employee to pay for their parting gift, and the longer they stay, the bigger the size of their

gift. The employees know this because it is included in the organization’s policy

document. The organization gifts employees who have stayed up to 1-year a training

course of their choice, up to N100,000 annually, if it will help them improve their

capacity. P3 pays the employees when they put in extra time at work and gifts them

Groceries, toiletries, and even cooked food to help alleviate the economic challenges. P4

gifts employees with foodstuff, especially rice, during the festive seasons at the end of the

year.
 81
Correlation With the Conceptual Framework

The focus of Theme 4 is disclosing financial and nonfinancial benefits' role in

employee retention. Under Theme 4, four subthemes were identified: recognition and

rewards, loan scheme, reasonable remuneration, and gifts and other benefits. When

salaries are inadequate, it can result in dissatisfaction, and an inadequate employee

salary is a hygiene factor that results in employee dissatisfaction. However, Bharath

(2023) noted that organizational leaders must go beyond paychecks to encourage

employees to stay. Miah and Hasan (2022) opined that to encourage the retention of

experienced employees, business leaders should include hygiene and motivator factors

as they play specific roles in the employees’ decision to stay. Other benefits like

recognition and reward and financial and nonfinancial benefits align with the Herzberg

two-factor theory as this study's conceptual framework since some subthemes are

motivator factors while others are hygiene factors.

Correlation With Literature

Theme 4 focuses on the influence of financial and nonfinancial benefits on

employee retention. The subthemes identified under financial and nonfinancial benefits

include recognition and rewards, loan scheme, reasonable remuneration, gifts, and other

benefits. Tang (2023) noted that nonfinancial benefits are a strategy that encourages

employees to stay, while Murtiningsih (2020) opined that compensation has a positive

impact on employee retention. Reasonable compensation is a good motivator because

compensation is usually given when an employee has done exceptionally well. Based on

the recent findings, nonfinancial benefits like managerial recognition and that others and
 82
make employees feel appreciated, have a sense of honor, and be motivated to work

harder. Nonfinancial benefits were seen to encourage employee performance and

improve the employees’ positive work attitude. Financial benefits as a strategy for

employee retention was also supported by Bharath (2023), who found that even though

the financial benefit is not enough to motivate employees and influence decisions to stay,

its absence can cause dissatisfaction. In this study, Akpan et al. (2022) noted that

reasonable remuneration and other nonfinancial benefits like fringe benefits are

responsible for attracting, motivating, and retaining employees. My findings about the

roles of financial and nonfinancial benefits in employee retention align with these recent

works of literature.

Applications to Professional Practice

The study findings indicated that organizations successfully retain their

experienced staff if they pay close attention to the training and development of the

employee, the management and leadership style, the culture being cultivated in the

organization, and the role that financial and nonfinancial benefits play in employee

retention. These strategies comprise the key themes identified from this research, which

all play a significant role. They can significantly help business leaders if they apply them

strategically to retain their experienced employees. The findings of this study can be

applied in an organization by creating capacity-building programs that will enhance the

employee’s knowledge, making them more relevant in the organization and helping them

perform better and improve output. The study results revealed that organizations

providing training and capacity-building opportunities retain experienced employees.

 83
Apart from the benefit to the employee, this also directly benefits the organization since

the employee’s performance will improve the output. This result applies whether the

organization is a service organization or not. Meanwhile, capacity building helps the

organization retain highly skilled staff abreast of the latest technology in their industry.

A management and leadership style that encourages employee participation and

engagement results in experienced employees staying and improving their work

contributions and attitude. If business leaders create an environment where employees are

free to contribute ideas and make some level of decision pertaining to their jobs, they

become more passionate and seek to ensure that their ideas succeed. In addition, the

study showed that proper onboarding of employees helps them engage better with their

roles and perform better. All participant organizations recognize excellent performance,

which boosts the employees’ morale and influences their decision to stay. Experienced

employees need to know that they are recognized and appreciated. Business leaders can

adopt this deliberate strategy to acknowledge efforts and contributions, boosting their

morale and encouraging them to be more engaged. A transformational

management/leadership style will be interested in supporting employee growth and

advancement. Business leaders can adopt this style as a strategy for employee retention.

A business leader may anonymously check with their experienced employee to confirm

that their strategies are enough to retain their employee. They may want to discover their

expectations from them through these anonymous calls.

Organizational culture is built over time, and when the right culture is built, it can

boost motivation and job satisfaction and encourage employees to stay. The result of this
 84
study encourages business leaders of SMEs to cultivate a positive work environment that

offers a sense of community to the employees. An environment that encourages the free

flow of communication, recognizes contributions and efforts, encourages a work-life

balance, and creates opportunities for growth is a work environment that encourages

employee retention. So, if business leaders wish to retain their experienced employees,

they may adopt the results of these findings. Business leaders need to realize that when

they are committed to growing the capacity of their experienced employees, their

organization benefits from this investment. First, growth opportunities involving capacity

building keep employees informed and knowledgeable about new technologies,

increasing the organization's profitability. In addition, when employees are aware that the

organization takes their growth seriously, they become more motivated and engaged with

its business.

The participants in this study are all business leaders in SMEs in Nigeria. As a

developing country, all the participants identified financial and nonfinancial incentives as

an essential strategy for employee retention. This is another result that can be beneficial

for professional practice. Business leaders can deliberately set up a system of employee

recognition and reward, loan schemes that can help employees meet immediate needs,

offer gifts and other fringe benefits to encourage the employees, and, most importantly,

ensure that employees are reasonably remunerated. The participants in this study

reiterated the importance of financial benefits because of the economic conditions. They

all confirmed that their employees would likely move to where the money flows more

because they have needs to meet; however, what keeps them staying with the
 85
organization is more than the paycheck, which is hardly enough. Business leaders may

offer fringe benefits like insurance schemes, covering the employee or their families.

Setting up no or low-interest loan schemes is another strategy. For this recommendation,

I advise setting up a proper system for loan repayment.

Implications for Social Change

The successful application of this study's results could contribute to positive

social change in many ways. First, the stability of an organization may result in higher

profitability which will increase the company tax—increased tax increases economic

revenue, which benefits the community and can be used to fund public infrastructural

development. High profitability is tied to how productive the organizations are, and

productivity is tied to many factors, including highly skilled and experienced employees.

Again, employees, who also are members of society, feel better about themselves when

they are readily acknowledged and rewarded and are able to contribute meaningfully to

societal development. Career growth results in higher financial capacity and increases

economic activities as well. Adopting the strategy of a work-life balance for the

employee creates a workforce that is more engaged with the community. Employees may

use their recreation time to engage in volunteering activities that will benefit the

community. Some of the personal development training the employees acquire will also

be used in their immediate environment, benefiting family and other social gatherings.

The result of this study revealed a direct social impact the community could

benefit from the business leaders adopting an aspect of training. One of the participant

organizations in this study trains young vocational school graduates in technical skills
 86
through their industrial training program. When they graduate from the program, they

form a pool of employable locals through the organization. The organization is cited in a

remote place, and getting experienced hands to work with them is not easy, so they

devised a means to train the locals. They contribute to training their potential staff,

making them employable, and improving the number of employable people in the

community. The employees that came in through this program are loyal to the

organization, and their retention rates are high.

Recommendations for Action

The primary employee retention strategies revealed in this study have been

implemented by the participants, who are business leaders of SMEs in Nigeria, to retain

their experienced employees. These strategies have been grouped into: (a) training and

development, (b) leadership and management style, (c) organizational culture, and (d)

financial and nonfinancial incentives. SME business leaders are essential to

implementing these recommendations because they are responsible for developing

company policies and they have direct interactions with the employees. The results of this

study can be helpful for business leaders in SMEs to develop policies that will reduce

turnover rates and increase the organization’s productivity by ensuring that the right

quality of employees is retained.

It is recommended that the management and leadership style of the business

leaders should be such that they are interested in the development and growth of the

employee while paying close attention to their wellbeing. This leadership style will create

an enabling environment where employees are engaged in their roles and participate in
 87
the day-to-day running of the business. Such employees are motivated to do their best to

achieve the organizational goals and, indirectly, their personal growth. Business leaders

should work on their ability to connect with their employees to understand their

intentions and to know if their retention strategies are working. This can be done either

anonymously or directly.

It is also recommended that business leaders invest in the training and

development of employees. Talent management and capacity building will motivate the

employee, enhance output quality, and keep the organization attractive and relevant in the

industry. Business leaders are advised to carry out a deliberate onboarding process to

place employees into roles that fit their skills to ensure they understand the company

policy on different work issues and the organizational culture. The business leader should

check in with the new employee after the day, week, month, and after 1 year to ensure

that they are fully engaged with the system. New technologies are being discovered every

now and then, so it is recommended that business leaders should invest in capacity-

building for their employees to keep them informed about their areas of expertise. This

will help employees not feel stuck in their capacity when they become engaged with the

organization and keep the business relevant.

Another recommendation for business leaders in SMEs is to ensure that they

constantly benchmark salaries and other financial and nonfinancial incentives to ensure

the organization is at par with similar industries or a little ahead of time. In Nigeria, a

developing country, employees tend to move toward jobs where financial benefits are

more. I recommend an attractive remuneration package with fringe benefits for

 88
experienced and highly skilled employees and ensure they are implemented. This strategy

will attract highly skilled and experienced job seekers and retain them with the

organization. Other recommendations for benefits include a system of appraisals that

will ensure that the input of experienced employees is recognized and duly rewarded.

Long service awards give the employee recognition to look forward to. I recommend a

long service award with an adequate reward.

Another important recommendation is to develop policies and a culture that

encourages open communication, mutual respect, friendliness, and positive team spirit. A

happy employee is a good ambassador for the organization (Khairy et al., 2023). When

employees are satisfied with their jobs, their focus on carrying out their roles will be

evident, and customers will notice. Customers’ complaints may boost their morale, and

they could decide to stay.

After they are approved and available for public view, I will share my research

findings with my participants. I will grant training sessions for business leaders of SMEs

on employee retention strategies in Nigeria. I will share my thoughts on some employee

retention strategies in business conferences and on social media so SMEs I may not be

able to reach physically may gain from the knowledge I have acquired in this study. I will

also publish portions of my findings in business journals in Nigeria.

Recommendations for Further Research

One of the limitations I envisaged was that the differences in the SME industries

might make the experience of one participant business leader not precisely the experience

of another. The results revealed that although industries differ, the strategies are the same.
 89
For further research, I recommend choosing participants in the same SME sector to see if

there would be differences in the different participants’ experiences.

For further studies, and with the interest of the DBA program in making a social

impact, I recommend that researchers look into employee retention strategies that will

directly or indirectly result in community development. Researchers may consider the

impact of training indigenous potential employees and recruiting exceptional ones, then

continuous training, bearing in mind that they may be instrumental to their community

development. Continuous training will grow their capacity, and they may become brand

ambassadors for the organization.

This study focused on the business leader’s view. The business leader may view

the employee retention strategy that worked from the view of the employees that have

stayed and what they are deliberately doing to retain them. However, I recommend

further research by interviewing the employees to know what strategy worked. This will

reveal a balanced view of why employees stayed or left.

Reflections

Reflecting on my almost 4 years of studies in the Doctor of Business

Administration (DBA) program, I have learned and grown in many ways. Initially, I was

not conversant with the learning pattern, being an online program, and I looked forward

to meeting with my tutors and committee members in any of the residencies. However,

when the COVID–19 pandemic struck the world, and we had to have virtual residencies,

that made it impossible. I learned during this process that significant learning is possible

virtually. I picked up some tremendous technological skills during the process. I became
 90
better at preparing and presenting slides using the PowerPoint app; I discovered more

features from the Microsoft Word app, which made editing, reviewing, recording, and

transcribing raw data easier. Learning the APA 7 referencing style was tasking. However,

I have become more confident in correctly citing my references.

I have also grown in my time management skills. The term plan was a strategy

that motivated me, helping me look forward to completing it each term, and incorporating

stretch goals helped me consistently achieve more than my term plan. Learning the

interaction style in the classroom through the discussions exposed me to other people,

including my chair, and this improved my communication skills. I interacted with peers

and senior colleagues, and everyone was always very courteous and helpful whenever

they could. I connected with a few outside the Walden portal. I have also grown in my

research skills. I have learned to source scholarly information online and correctly

reference the authors using the required method. I have observed a significant

improvement in my critical thinking skills and problem-solving skills.

The differences in the time zones initially made me miss some of my essential

interactive sessions. I adjusted my sleeping time and did most of my work in the wee

hours of the morning, apart from the interviews and data collection stages. The DBA

program impacted other aspects of my life, family, business, and other commitments.

However, with proper time management and support from my family and friends, I have

come this far. I am grateful. I had a fantastic time each week with my chair; I was always

looking forward to my time with her. She is a huge encouragement in this journey.
 91
One of my motivations for this study was volunteering in a nongovernmental

organization (NGO) and seeing the employee turnover rate in NGOs in Nigeria. I wanted

to discover what strategies SMEs, being profit-oriented, use to retain their employees and

see if they can be adapted in an NGO scenario, given the limitations of funds. To study

employee retention further, I will choose NGO leaders as my participants and may

incorporate the employees.

Conclusion

In conclusion, this study revealed strategies for employee retention that business

leaders of SMEs in Nigeria have implemented to retain their experienced employees.

Business owners and leaders are in the position to implement these strategies, being that

they interact more with employees and are involved in creating policies. The organization

leaders in designing policies must incorporate retention strategies and ensure that the

policies align with their core values, including when it is a policy pertaining to

employees. Employees must be regarded as essential to the organization’s success and, as

such, must be given opportunities to grow in learning and capacity such that they are

encouraged to stay. The leadership and management style in SMEs should be such that

the business leaders create an enabling environment to influence a positive and friendly

work culture. This can be accomplished by encouraging open communication between

colleagues, subordinates, and their leaders. This will enhance the giving and taking of

feedback. When employees can freely express themselves, it is easy for their concerns to

be known and handled; also, employers and business leaders are able to communicate

their expectations to the employees. An observant business leader can decipher

 92
employees’ concerns when they allow for a free flow of communication, and they can

easily proffer solutions to their concerns.

As a developing country, financial and nonfinancial benefits and incentives are

necessary retention strategies in Nigeria. Leaders of SMEs must consider the

remuneration package and ensure they are at par or a little above what is obtainable in

their sector of the economy. Business leaders must invest in benefits that will help

alleviate the financial burdens of their employees, e.g., health benefits in the form of

health insurance, low or no-interest loans, opportunities to repossess the company’s

depreciated assets through balloting and auctioning, etc. Other benefits include

acknowledging and rewarding employee contributions by having employees or the

month/year awards and recognizing extended stays by organizing long-service awards.

When implemented, the findings from this study will be helpful to business leaders in

SMEs who are developing employee retention strategies that will encourage their

experienced employees to stay. They should be part of the policy document of the

organization and adapted to suit the organization’s core values.

 93
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Appendix: Interview Protocol

Meeting preparation. Meeting Protocol

Book an appointment over the telephone, Good day. My name is Ijeoma Omeoga. I

visit the participants at work, or schedule am a doctoral student at Walden

an informal meeting to introduce the University, and I am researching

interview. employee retention strategies in SMEs in

Nigeria. Thank you for agreeing to

participate in helping me understand what

strategies you have successfully

implemented in your organization to retain

your employees. I have earlier shared the

interview questions with you on the topic.

Kindly let me know if you understand the

questions. Also, please feel free to ask

questions before the interview session

starts and even during the interview.

Paraphrase the questions if the participant 1. What strategies employee did you

requires clarity and ask probing questions use to retain your experienced

to better understand the participant’s employees?

responses.
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2. How do you measure the success

of the employee retention

strategies you used?

3. What challenges did you

experience in achieving success in

implementing your employee

retention strategies?

4. How did you overcome these

challenges in implementing your

employee retention strategies?

5. Which of the strategies have you

implemented that has worked best

for employee retention?

End the interview by verbally thanking Thank you for taking the time for this

the participant. Prepare a thank you note interview. The information you shared

to be sent by e-mail to appreciate their with me will be useful in this research

shared information and the time spent. process and help me progress in my

doctoral study. To end this session, I

would like to know if you have any

questions(s).
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Schedule a follow-up member check Good day. Recalling my earlier interview,

interview. This is to confirm that my one of the requirements of the course is to

transcription aligns with the participant’s ensure that I correctly captured the

responses. meaning you shared as responses to my

research questions through member

checking. To carry out member checking,

I would like to schedule another interview

to follow up on the previous interview.

Kindly let me know what time and place

will be suitable for you.

Arrive at the place of the interview on Good day. Sequel to our last conversation,

time. Start by describing the process of I have a hard copy of the interview

member checking. questions and the analysis of your

responses. Please evaluate it and let me

know if I correctly captured your thoughts

or misrepresented something you said.

Feel free to add other information that

might be necessary to clarify the findings

of this research.

Prepare the analysis for each question and Good day: attached is an analysis of the

share it with the participants. responses to each question I asked you.

This analysis includes the interview

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question and the interpretation of your

responses to each question.